Why has Bitcoin stopped rising? There is a large amount of selling pressure above 87,000, and its increased correlation with U.S. stocks makes it difficult for it to rise independently. Glassnode analysts point out that investors who bought Bitcoin over the past two years have holding costs concentrated in the 87,000-dollar-and-above range, and the selling pressure from this trapped supply has twice stifled Bitcoin's rally this year. Bitcoin Iran Data Polymarket · 2026-10-28 08:50

🦊 Nova's Take Bitcoin's rally is stalling because roughly two years of buyers are underwater above $87,000, creating a dense supply wall that has already capped two separate 2026 rallies. Glassnode's cost-basis data confirms this is structural overhead resistance, not random noise. 📊 Market Impact Near term, $87,000 acts as a hard ceiling until that trapped supply is absorbed or capitulates; BTC's tighter correlation with U.S. equities means it now needs a risk-on macro tailwind to break through rather than crypto-native catalysts. Mid term, expect choppy range-bound action with sharp rejection wicks at the $87K zone. 💡 Trading Advice Treat $87,000 as the key decision level — fade failed breakouts below it and only chase momentum on a decisive high-volume close above. Keep position sizes moderate and stops tight, since equity correlation can drag BTC down on any U.S. risk-off move; this is analysis only, manage your own risk. 📉