Glassnode data shows selling pressure in the Bitcoin market is coming from investors who bought at higher price levels. Two holder groups are currently underwater, according to the data: investors who bought 1 to 2 years ago at $97,000, and those who bought 6 to 12 months ago at $89,000. The analysis also says investors who entered during the 2025 rally are now selling the largest amount of Bitcoin on a daily basis. By contrast, buyers who accumulated during market declines are still showing a stronger willingness to hold and have not been selling at scale. The figures point to a split in holder behavior, with recent high-price entrants taking losses while dip buyers remain comparatively steady.
According to Glassnode, Bitcoin investors who bought at higher price levels are now selling.
The data identifies two groups that are currently underwater: investors who bought 1 to 2 years ago at $97,000, and investors who bought 6 to 12 months ago at $89,000.
The analysis says market participants who entered during the 2025 upswing are now selling the largest amount of Bitcoin on a daily basis. Buyers who accumulated during market declines, by comparison, are still showing a stronger willingness to hold and have not been selling in large size.
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