Glassnode’s analysis says Bitcoin buyers facing unrealized losses may limit price gains near their roughly $87,700 cost basis. That level is an estimated resistance point, not a price ceiling. 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 puts the cost basis of US spot Bitcoin ETFs at $81,500 and says bids clustered around $80,000 may offer support. It said a break below that zone could bring a liquidation cluster just under $80,000 and the estimated true market mean near $78,000 into play.
