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Bitcoin’s push to reclaim the $80,000 area is running into a familiar problem: overhead liquidity. New on-chain research from Glassnode suggests that the path higher is likely to be tested by long-term holders and fresh sell-side supply clustered between roughly $81,000 and $86,000.

While bulls may want $80,000 to act as support, Glassnode’s latest The Week Onchain analysis argues that the more difficult hurdle may arrive closer to $83,000—where long-term holders who bought through a prior drawdown could face an incentive to sell near breakeven.

Key takeaways

• Glassnode identifies a dense long-term holder supply band between $83,000 and $86,000 that has persisted through a full drawdown cycle.
• Additional “ask” liquidity has reappeared on exchange order books in the same broader zone, potentially limiting upside momentum.
• Glassnode says multiple tracked overhead structures now overlap, placing recovery demand and selling pressure in the $81,000–$86,000 range.
• On the chart, several widely watched moving-average levels cluster around the current price area, reinforcing $80,000 as a resistance test.

Glassnode points to long-term holder supply under $86,000

In its latest edition of The Week Onchain, Glassnode flagged multiple pools of BTC that could be released back into the market if Bitcoin rises toward $86,000. The most notable segment is long-term holder (LTH) supply—coins held without selling for at least six months.

Glassnode’s analysis emphasizes that the first heavy supply structure sits in the $83,000–$86,000 region and is “effectively all” long-term holder supply that survived the prior drawdown. The key implication: if price reaches that band, it may test whether LTHs remain willing to hold rather than sell at or near breakeven.

“Above, the first heavy structure is $83K-86K…,” Glassnode wrote, describing how $83,000 would pressure the resolve of the LTH cohort not to sell at breakeven.

Exchange asks and “overhead shelves” reinforce the same resistance band

Beyond on-chain holder behavior, Glassnode also pointed to new sell-side liquidity appearing on exchange order books. According to the report, these re-laddered asks may not be intended to execute immediately; instead, their owners could be aiming to keep orders positioned above spot price should Bitcoin push higher.

Glassnode framed this as part of a broader stack of overlapping supply structures rather than a single isolated wall. It cited several elements across price ranges, including a “self-custody cost-basis shelf” starting around $80.8K, dealer-related “gamma” flipping negative near $82.3K, and a liquidation shelf extending to $86K. It also referenced a “patient-supply wall” filling the $83K–$86K area.

Most importantly for traders, Glassnode summarized that every overhead structure it tracks currently sits between $81,000 and $86,000—describing the band as where demand for recovery meets a concentrated test.

“Every overhead structure we track now sits between $81K and $86K; that band is where the recovery’s demand meets its test.”

Price action: multiple trend indicators converge near $80,000

On top of the on-chain supply picture, Glassnode’s discussion aligns with chart-level constraints around $80,000. The area has seen multiple trend lines converge, strengthening its role as a resistance hurdle.

According to TradingView data referenced in the article, Bitcoin’s 50-week and 100-week exponential moving averages (EMAs) currently sit at $77,353 and $78,485, respectively. The same dataset places Bitcoin’s 365-day volume-weighted average price (VWAP) around $82,600—another figure that sits relatively close to today’s decision zone.

That clustering matters because it can compress the market’s “decision space.” If price trades within or near multiple major averages while overhead liquidity remains intact, upside attempts can repeatedly meet sellers—particularly when they overlap with historical supply bands.

Why this matters for bulls: $80,000 may not be the final hurdle

Earlier reporting from Cointelegraph highlighted market skepticism about whether Bitcoin’s rebound would last, and noted calls for patience before declaring a durable trend shift. In particular, trader and analyst Rekt Capital stressed that Bitcoin needs to hold the 50-week EMA for longer before a meaningful change can be considered, with expectations for bearish market timing to continue until the end of 2026.

Read alongside Glassnode’s findings, that framing suggests bulls may need more than a single reclaim of $80,000. If the $81,000–$86,000 band truly concentrates both long-term holder supply and exchange ask liquidity, then any breakout may require sustained buyer demand to absorb supply—especially as price approaches the $83,000–$86,000 segment.

There’s also a timing asymmetry to consider. Once liquidity is already sitting overhead—particularly from long-term holders and re-laddered sell orders—upside can stall quickly if buyers fail to step in before the market reaches the highest-concentration area.

For readers watching the next phase, the key is whether Bitcoin can progress through the $81,000–$86,000 corridor without triggering a meaningful sell response from long-term holders and order-book liquidity. Until that’s clearer, $80,000 may remain less a floor than a gateway—one that leads into a narrower, harder test farther up.

Bitcoin (BTC) has struggled to flip $80,000 into support in recent days, but bulls’ real challenge is still to come, new research says.

Key points:

• Bitcoin long-term holders add to BTC price resistance below $86,000, Glassnode reveals.
• Buyer demand must overcome this area as Bitcoin struggles to advance beyond $80,000.
• Multiple key trend lines sit around spot price, increasing the implications of an eventual loss or reclaim.

Glassnode: Key overhead liquidity structures sit between $81,000 and $86,000

In the latest edition of its regular newsletter, The Week Onchain, crypto analytics platform Glassnode flagged multiple pools of coins that could be released into the market below $86,000.

Of particular interest are long-term holders (LTHs) — wallets holding BTC without selling for at least six months. 

“Above, the first heavy structure is $83K-86K, and effectively all of it is long-term holder supply that has sat through the entire drawdown,” it wrote, predicting that reaching $83,000 would test the resolve of the LTH cohort not to sell at breakeven.

BTC supply distribution by wallet cohort. Source: Glassnode

In the same zone, new ask liquidity has appeared on exchange order books. Its owners, Glassnode notes, may not intend for their orders to be filled, instead aiming to stay above spot price should it rise further.

“The re-laddered asks join a stack of independent structure pointing at one zone. The first self-custody cost-basis shelf begins at $80.8K, dealer gamma flips negative at $82.3K, the surviving liquidation shelf runs to $86K, and the patient-supply wall fills $83K-86K,” it continued. 

“Every overhead structure we track now sits between $81K and $86K; that band is where the recovery’s demand meets its test.”

BTC spot order-book heatmap. Source: Glassnode

Trend lines converge on a narrow BTC price corridor

The area around $80,000 has also seen multiple price trend lines converge, strengthening its status as a resistance hurdle.

Related: BTC RSI bullish divergence draws 2022 comparisons as analysis weighs new price trend

Bitcoin’s 50-week and 100-week exponential moving averages (EMAs) currently sit at $77,353 and $78,485, respectively, per data from TradingView. Additionally, Bitcoin’s 365-day volume-weighted average price (VWAP), a moving average that factors in volume, sits around $82,600.

BTC/USD one-day chart with 50-week, 100-week EMA; 365-day rolling VWAP. Source: Cointelegraph/TradingView

Previously, Cointelegraph reported on the skepticism of market participants over whether Bitcoin’s rapid rebound would endure. With regular bear market timing due to continue until the end of 2026, trader and analyst Rekt Capital stressed that price needs to hold the 50-week EMA for longer before a meaningful trend change can be considered.  

TRM Labs has appointed former Monetary Authority of Singapore official Ziqing Ang as Head of Policy for Asia-Pacific as the blockchain intelligence firm tracks more than $103 billion in adjusted crypto crime volume in 2025.

According to details shared with crypto.news, Ang will work with regulators, policymakers, law enforcement agencies and private institutions across Asia-Pacific, focusing on illicit financial networks and policy responses as governments develop rules for digital assets and artificial intelligence.

Her appointment comes as criminal groups across the region increasingly use cryptocurrency alongside new technology to run investment scams and other fraud operations. TRM tracked adjusted crypto crime volume rising from about $123 million in 2020 to more than $103 billion in 2025, while investment scams, including pig-butchering schemes, accounted for 62% of fraud inflows last year.

Generative AI has also become part of scam operations, according to TRM, which recorded a 40% increase in AI-enabled scam activity. The company has tracked uses ranging from deepfake recruitment videos to fabricated account dashboards as criminal groups incorporate the technology into operational infrastructure.

TRM Labs puts APAC policy under Ziqing Ang

With more than a decade of experience across regulation, financial markets and digital assets, Ang enters the position after working on both the government and private-sector sides of financial services.

She began her career at the Monetary Authority of Singapore, spending more than eight years across financial markets development and reserve management. During that period, Ang worked with industry and public-sector participants on initiatives involving Singapore’s capital markets and its role as an international financial center.

Her work at MAS later included managing fixed-income portfolios and contributing to macroeconomic and investment research connected with Singapore’s official foreign reserves.

After leaving the regulator, Ang joined Sygnum, which describes itself as the world’s first regulated digital asset bank, as vice president of business development. Her responsibilities there included supporting digital asset adoption among institutional and accredited investors.

Ang most recently served as chief business officer at Bright Point International Digital Assets, part of BPI Financial Group, where she led development of its over-the-counter brokerage operations. Her work covered licensing as well as the institutional infrastructure needed to support the business.

Ari Redbord, TRM Labs’ global head of policy, said Ang’s experience moving between the public and private sectors would support the company’s work with authorities and institutions in Asia-Pacific.

“This is a moment when the public and private sectors must come together to get ahead of the threats emerging in this region,” Redbord said. “Ziqing brings deep expertise and experience working across both the public and private sectors, and the credibility to bring regulators and industry together around this work.”

Hiring officials with regulatory backgrounds has also become common among digital asset companies expanding in Asia. In June, crypto.news previously reported that former TRM executive Angela Ang joined BitGo as managing director for APAC and president of BitGo Singapore after previously spending more than a decade at MAS.

Singapore tightens crypto licensing and oversight

Ang’s appointment also comes while Singapore continues to enforce its licensing rules for digital asset firms.

In May, MAS revoked Bsquared Technology’s Major Payment Institution license after identifying weaknesses in risk management, conflicts of interest and outsourcing arrangements. The regulator also found that the company had provided false or misleading information during its license application and subsequent inspection, with the Bsquared license revocation taking effect on May 14.

The regulator has separately continued using its Investor Alert List to identify companies that consumers could mistakenly view as regulated.

Bybit was added to the list in June, with MAS stating that the exchange was not licensed or regulated to provide services to users in Singapore.

Hyperliquid was also added to the list during the same month. The decentralized trading platform responded that it had never claimed to hold a Singapore license or authorization, while MAS clarified that inclusion on the list was not itself an enforcement action.

By July, Bitget had issued its own notice confirming that it did not hold a license, approval, registration or authorization from MAS and did not offer or target services to people in Singapore. The company also said Singapore remained a restricted market for its platform.

Ang said Asia-Pacific is reaching an important point in the development of rules covering both AI and digital assets.

“Asia-Pacific is at an important stage in how it regulates technology in the age of AI, and the decisions made over the next few years will shape the safety of the ecosystem,” she said.

“I’ve spent my career moving between regulators and the institutions they oversee, and I’ve seen how much good regulation and strong partnerships between the public and private sector can do.”

Crypto scam compounds remain an APAC enforcement target

TRM’s figures on investment fraud come as authorities continue pursuing scam networks operating across Southeast Asia, where pig-butchering operations have been linked to large compounds and human trafficking.

In March, the FBI and Thai police froze about $580 million in cryptocurrency and seized around 8,000 phones during a cross-border fraud operation targeting Southeast Asian pig-butchering groups accused of defrauding U.S. victims.

Authorities said organized groups operating industrial-scale compounds have used fake cryptocurrency investment platforms to obtain funds from victims. Some operations have also relied on trafficking victims who were forced to participate in online scams.

A separate investigation opened in India in July after reports that Indian nationals had been trafficked to Myanmar and forced to work inside crypto scam compounds. Police in Maharashtra registered a criminal case after the wife of a 24-year-old man said he had been taken near the Thailand-Myanmar border after accepting what he believed was a job in Bangkok.

Law enforcement cases have also documented how funds from pig-butchering schemes move through both conventional banking channels and cryptocurrency.

Chinese national Jingliang Su was sentenced to 46 months in a U.S. prison in January after pleading guilty in connection with a network that prosecutors said transferred more than $36.9 million from U.S. bank accounts before converting funds into USDT and sending the assets to Cambodia. Prosecutors said 174 victims had been targeted through social media, text messages and dating platforms and directed toward fake investment services that displayed fabricated profits.

Fake dashboards resembling legitimate trading platforms have also appeared in enforcement actions involving scam compounds. U.S. authorities previously seized a fraudulent website linked to an operation in Burma that displayed false deposits and fabricated investment returns while directing some victims toward malicious mobile applications.

TRM said generative AI is increasing the range of tools available to fraud networks, with deepfakes and fabricated interfaces becoming part of scam operations instead of remaining experimental uses of the technology.

TRM Labs expands its APAC compliance team

Alongside Ang’s appointment, TRM has been building out its regional policy and compliance personnel as governments develop digital asset frameworks.

The company appointed former MAS regulator Claudia Hui as Head of Compliance Advisory for APAC last month. TRM said the hire formed part of its expansion across policy, compliance and go-to-market operations in the region.

Ang said her new role would involve working directly with regulators, law enforcement agencies and industry participants as those frameworks develop.

“TRM’s focus on building a safer world is the kind of work I want to be part of, and I’m looking forward to working with regulators, law enforcement, and industry across the region to support responsible innovation,” she said.