Glassnode’s analysis says Bitcoin buyers from late 2025 have an aggregate cost basis near $87,700 that is acting as resistance to price gains. The area above $87,000 also includes Bitcoin’s 2026 opening price of $87,490 and its 20-month moving average of $87,165.
Glassnode identifies potential support around $80,000, where exchange bids sit near the US spot Bitcoin ETF cost basis of $81,500. It says a break below that zone could bring a liquidation cluster just under $80,000 and the true market mean, near $78,000, into play.
