📉 BEARISH OUTLOOK
There's a wall of sellers sitting right above Bitcoin right now, and they're not budging. Understanding who they are might explain why BTC keeps struggling to break higher.
According to new research from Glassnode, a well-known blockchain data firm, Bitcoin is facing strong resistance near $87,700. Resistance just means a price level where lots of selling pressure shows up, making it hard for the price to push past it.
The data points to a specific group Glassnode calls "top buyers," meaning investors who bought Bitcoin near the peak in late 2025. These people paid high prices and are now sitting at roughly break-even. When price climbs back to where they bought in, many of them sell to get their money back, and that selling is what keeps pushing the price back down.
If you hold Bitcoin right now, this is worth paying attention to. Every time BTC approaches that $87,700 zone, a wave of sellers shows up. Until that group either sells off their coins completely or decides to hold longer, the price may keep hitting that ceiling and bouncing back down.
It does not mean Bitcoin is doomed. It just means the path upward has a real obstacle in the way. Think of it like a traffic jam on the highway, things can still move forward, just slower than you might hope.
Keep an eye on whether Bitcoin can hold above $87,700 on a daily close. If it manages to break and stay above that level with strong buying volume, analysts think it could signal that the "top buyers" have finished selling. If it keeps getting rejected there, more sideways or downward movement is likely in the short term.
Investors who bought Bitcoin near its late 2025 peak are selling when the price returns to their break-even point. This wave of selling creates a ceiling that is hard for the price to push through.
In the short term, yes, the outlook looks cautious with this resistance in place. However, if buyers can absorb all that selling pressure, the price could eventually break through and move higher.
A clean break above that level could mean the selling pressure has cleared, which analysts see as a positive sign for continued upward movement. It would be an important signal worth watching closely.
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