Bitcoin is approaching a potential selling-risk zone as holders who bought during earlier market highs reassess their positions near break-even. Glassnode said investors who bought during the 2025 bull market are bringing more Bitcoin to market each day than at any other point this year, while buyers who entered during the decline are not selling at a comparable scale. Selling increased as Bitcoin approached $90,000, particularly among holders who have owned it for six to 12 months and whose average purchase price Glassnode places at about $89,100. Earlier analyses identified overlapping cost bases around $88,000-$89,000, including Darkfost's estimates of $88,350 and $89,200 and Glassnode-reported purchase levels near $97,000 and $89,000. These figures come from separate on-chain measurements and indicate a potential risk zone rather than conventional technical resistance.