Bitcoin Faces Major $80K Supply Wall as ETF Holders Near Break-Even

Bitcoin is approaching its largest concentration of supply, while also testing the important 50-week moving average.

The cryptocurrency is facing a major resistance zone between $80,000 and $82,000, which holds the highest concentration of Bitcoin supply across comparable price ranges.

Glassnode’s Realized Price Distribution (URPD) data shows that nearly 8% of Bitcoin’s circulating supply was acquired within this range. The metric tracks the prices at which existing Bitcoin holdings last changed hands and groups each entity’s balance according to its average acquisition price.

About 5% of Bitcoin’s supply is clustered around $80,000, making it the largest concentration at any single price. The $82,000 level represents the fourth-largest cluster, while roughly 3.7% of supply is positioned around $78,000, the second-largest concentration.

These supply clusters can become resistance because investors who bought Bitcoin at those levels may look to sell once the price returns to their original cost basis.

The potential selling pressure is further reinforced by the fact that the average cost basis for deposits into U.S. spot Bitcoin ETFs is also estimated at around $80,000-$82,000.

A similar supply concentration exists between $60,000 and $63,000, where more than 6% of Bitcoin’s supply is positioned. That range eventually developed into a strong support area after Bitcoin spent much of 2026 trading there. Although BTC briefly dropped below $60,000 during the summer, it quickly recovered the level.

Bitcoin is also approaching its 50-week moving average, which currently stands at approximately $81,081. The indicator represents Bitcoin’s average closing price over the previous 50 weeks.

BTC has traded below this trend line since November 2025. Historically, Bitcoin’s previous major moves above the 50-week average in May 2020 and March 2023 were followed by extended bullish periods.