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Investors who bought near prior highs are still limiting Bitcoin’s upside, according to Glassnode. As Bitcoin moved higher, investors who bought one to two years ago sold on a large scale, Glassnode said. Since then, Bitcoin’s rally has stalled near $88,000, the average cost basis of investors who bought six to 12 months ago, and has failed to break above that level. Glassnode added that selling by the one- to two-year cohort has since slowed sharply.