Bitcoin faces a key on-chain test in the $83,000 to $86,000 range, where Glassnode says 1.05 million BTC held by long-term holders sit at their cost basis. The range marks the first major high-cost basis cluster above the current spot price of $79,000. Glassnode said these holdings have remained stable through the recent decline, making the zone an important level to watch for potential break-even selling by long-term holders if Bitcoin rebounds into that range.