Glassnode says Bitcoin selling pressure is coming from buyers who entered at higher prices

Glassnode said in a post on X that selling pressure is showing up in the Bitcoin market as investors who bought at higher price levels begin to exit positions. The data points to two groups that are currently sitting on losses: investors who bought 1 to 2 years ago at $97,000, and those who bought 6 to 12 months ago at $89,000. According to the analysis, investors who entered during the 2025 rally are now responsible for the largest amount of Bitcoin sold per day. By contrast, buyers who accumulated during market pullbacks have not shown signs of large-scale selling. The update highlights a split in holder behavior, with underwater positions appearing more active on the sell side while dip buyers remain comparatively steady.