Glassnode: Bitcoin Faces Key Resistance at $81,000–$86,000 Following 26% Short-Squeeze Rally

Bitcoin has rebounded 26% from its mid-August lows, a move largely driven by a record-breaking short squeeze on August 19, according to Glassnode. While U.S. spot Bitcoin ETFs saw a strong seven-day net inflow of $2.23 billion, the market now faces significant supply resistance between $81,000 and $86,000, where long-term holder cost bases and options market gamma levels converge. Analysts suggest that sustaining prices above $83,300 with continued ETF inflows is necessary to absorb this supply, while noting $62,000–$65,000 as a critical support zone.