Bitcoin Supply Concentrated Above $80,000 Caps Price Despite Rising Dip Demand, Glassnode Says

Bitcoin's consolidation between $80,000 and $95,000 is linked to concentrated supply above this band, acting as resistance near newer buyers' cost basis, Glassnode's Short-Term Holder Cost Basis Distribution heatmap showed on Jan. 15. Supply overhead in this range has repeatedly capped rebound attempts, keeping the price largely stagnant even as buying interest builds on pullbacks. Glassnode noted that continued demand accumulation above $80,000 could potentially pave the way for a breakout.