Glassnode: Bitcoin trapped between $81,300 support and $95,000 resistance as options market signals range-bound structure

Bitcoin remains confined between structural support near $81,300 and persistent selling pressure above $95,000, with spot demand selective and futures positioning focused on de-risking, glassnode said in its December 18 weekly analysis. Price was capped around $93,000 before pulling back to $85,600, reflecting dense supply between $93,000 and $120,000, with upside likely constrained as long as Bitcoin trades below the 0.75 percentile near $95,000 and fails to reclaim the short-term holder cost basis around $101,500. Options markets reinforce a range-bound structure with near-dated implied volatility compressing and expiry-driven positioning keeping price action constrained into late December. The firm notes a material shift would require either sellers exhausting supply above $95,000 or fresh liquidity inflows strong enough to absorb existing supply and reclaim key cost-basis levels.