Source: GlassnodeThe firm noted that Bitcoin has typically traded higher at this stage of previous dollar rallies since 2015. However, BTC's current performance ranks among the weakest, with only three of the 20 previous dollar rallies producing a worse performance at a comparable point. Long-term holders are viewed as more patient and could provide support. On the other hand, short-term holders are more reactive, with many currently underwater and potentially more likely to sell during a rebound. Above that, a larger supply wall from long-term holders sits between $83,000 and $86,000.