Bitcoin Approaches $83K Cost-Basis Wall as Sell Pressure Hits Year Low

The confluence of long-term holder cost basis, liquidation heatmaps and ETF breakeven into a single resistance band matters because it concentrates potential supply and short-squeeze fuel in one narrow zone, making the next move less about trend and more about absorption. Thin sell-side risk means little active distribution is meeting the rally, so the band's reaction — not the macro print — is the nearer catalyst. Whether spot demand can clear that wall without forcing a liquidation cascade is the open question.