Glassnode reports that Bitcoin faces significant resistance in the 87 000 USD to 88 000 USD range. This pressure stems from investors who acquired their holdings between late 2025 and early 2026 and are now selling as the price nears their break-even point.
The analysis highlights that holders in the 6-12 month bracket have an average cost basis of approximately 88 000 USD. Furthermore, investors in the 1-2 year category hold a cost basis near 100 000 USD, creating additional supply clusters that may limit further upward movement.
Current market activity shows Bitcoin trading between 82 000 USD and 84 000 USD, characterized by thin volumes and mixed flows into US spot Bitcoin ETFs. The cost basis for these ETF holders is estimated at approximately 81 500 USD.
Support levels are identified at 81 500 USD and the True Market Mean, which ranges from 77 500 USD to 78 000 USD. A decline below these levels could signal a shift in market structure, while a breakout above 88 000 USD may trigger increased volatility.
