Bitcoin Faces Resistance Near $85,000 Amid Long-Term Holder Activity

2026-09-29

Bitcoin's attempt to surpass $85,000 was met with resistance, as long-term holder supply levels emerged as a key factor. Economic headwinds also contributed to the price action.

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AI-generated. Grounded in the article and its cited sources.

Bitcoin encountered resistance near $85,000 as long-term holder supply levels became a notable factor. Economic headwinds, including rising U.S. bond yields, also contributed to downward pressure on the cryptocurrency.

Key facts

Bitcoin traded near $84,000 on Tuesday.
Sellers maintained positions above current levels, causing Bitcoin's gains to recede.
Long-term holder cost-basis prices are reportedly hindering further upward movement for Bitcoin.
Rising U.S. bond yields have exerted downward pressure on various assets, impacting Bitcoin's market sentiment.

Source: CoinTelegraph

Reported by VERA Newswire.