Glassnode reports that on August 19, a short squeeze pushed BTC to rebound above $80,000, but it was then blocked and fell back to around $76,000 under the dense supply zone of long-term holders at $83,000–$86,000. On-chain data shows that when BTC was around $78,000, the proportion of supply in profit had risen from 65% in May to 68%, indicating higher potential selling pressure for profit-taking at present. The $62,000–$65,000 range forms major support below, while $83,000–$86,000 remains the key resistance above. https://(wublock123.com)/news/glassnode-btc-supply-pressure-83000-86000-range-bound-67693