Bitcoin's price has faced renewed pressure after a recent decline pushed BTC toward the lower end of its current range. At the time of writing, Bitcoin is hovering above the critical $85,000 level.
While downside risks persist, sustained holder confidence is preventing a deeper correction. Long-term investors continue to act as a stabilizing force.
Bitcoin Price Analysis. Source: TradingView
Chart showing BTC testing the $86,361 support level with key resistance at $90,401
📊 Bitcoin Key Metrics (December 17, 2025)
Sources: Glassnode, TradingView
Bitcoin Investors Are Still Optimistic
According to Glassnode co-founder Rafael, Bitcoin treasury holdings among public companies continued to increase despite BTC's drawdown from $125,000. This trend suggests institutional holders are not engaging in widespread forced selling. Several equities tied to Bitcoin trade below mNAV, yet accumulation persists across corporate treasuries.
Bitcoin Treasury Balances. Source: Glassnode
Corporate Bitcoin holdings continue to grow despite price drawdown
This behavior highlights resilience among large investors who appear positioned for a recovery rather than short-term exits. The lack of panic selling indicates confidence in Bitcoin's long-term value proposition.
On-chain data shows shifting macro momentum. The short-term holder to long-term holder supply ratio has climbed to 18.4%. This reading exceeds the upper statistical band of 16.9%, signaling increased influence from short-term participants.
Bitcoin STH/LTH Supply Ratio. Source: Glassnode
Ratio climbs to 18.4%, exceeding the 16.9% upper statistical band
A higher STH presence typically raises market sensitivity to capital flows. Short-term holders tend to react faster to price changes, amplifying volatility. As a result, Bitcoin may experience sharper intraday moves while long-term holders provide structural support during pullbacks.
BTC Price Falls Back to Support
Bitcoin is receiving mixed signals from resilient long-term holders and reactive short-term participants. This balance is likely to limit sharp declines while also restricting rapid upside. With short-term holders controlling momentum, BTC may continue consolidating.
At the time of writing, Bitcoin trades at $86,581, holding above the $86,361 support level. If broader conditions improve and short-term holders reduce selling pressure, BTC could recover toward the $90,401 resistance. A move above this level would help restore confidence after recent losses.
Bullish Scenario
Condition: Hold above $86,361 support
Target: $90,401 resistance
Catalyst: Reduced STH selling pressure
Outcome: Confidence restoration
Bearish Scenario
Condition: Break below $86,361
Next Support: $84,698 zone
Risk Level: Below $85,000
Worst Case: $82,503 target
However, losing the $86,361 support could shift momentum lower. A breakdown may expose the $84,698 level as the next support zone. Failure to hold this area could push Bitcoin below $85,000 and raise the risk of a decline toward $82,503, invalidating the bullish outlook.
What This Means for Investors
Bitcoin’s ability to hold above the $85,000–$86,361 support zone highlights the stabilizing role of long-term holders, even as short-term volatility increases. While downside risks remain if key support levels fail, sustained institutional accumulation continues to signal long-term conviction. In the near term, price action is likely to remain range-bound, with short-term holders driving volatility and long-term investors anchoring market structure. A decisive move above resistance would be required to restore broader bullish momentum.
About the Author: Alexandra Vance
Alexandra Vance specializes in the intersection of politics, regulation, and cryptocurrency markets. With a background in political science and financial journalism, she analyzes how government policies and geopolitical events impact digital asset valuations and market structures.
Disclaimer: In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a professional before making any financial decisions.
Sources & Data References
- On-chain metrics and supply ratios sourced from Glassnode
- Bitcoin price levels, support, and resistance data derived from TradingView
- Market capitalization and historical price context referenced from CoinMarketCap