Glassnode says break above $83K is key to Bitcoin rebound

Bitcoin has entered a recovery phase, but strong selling pressure between $83,000 and $86,000 will be the key test for further gains, according to on-chain analytics firm Glassnode. Glassnode said U.S. spot Bitcoin ETFs saw $22.3 billion in net inflows during the rebound, marking the strongest weekly inflow this year. At the same time, signs of overheating in the futures market remain limited. BTC-denominated futures open interest fell 11%, while funding rates stayed near neutral levels, indicating excessive leverage has not rebuilt as spot prices recovered. The firm said the main challenge is a thick layer of supply above $80,000. Major resistance is clustered around $80,800 and $82,300, while multiple resistance levels overlap in the $82,000-$86,000 range, including long-term holder supply and sell walls on order books. Glassnode added that if BTC holds above $83,300 and spot ETF inflows continue, it could signal the market is successfully absorbing that selling pressure.