Glassnode
Bitcoin has held the ETF cost basis near $81.5K twice, turning the level into support after price spent most of the year below it. The May rally stalled just under the same threshold.
Why it matters
The move marks a change in the market's technical structure. A level that previously acted as resistance is now being tested as support, putting the ETF cost basis at the center of the current Bitcoin setup.
Market impact
Holding $81.5K keeps that support intact. If the level fails, the next major reference below is the True Market Mean at $77.5K.
Frequently asked questions
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How many times has Bitcoin held the ETF cost basis as support?
Bitcoin has held the ETF cost basis around $81.5K twice as support.
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Why is the $81.5K level important for Bitcoin?
The level previously acted as a ceiling, but it has now shifted into support after Bitcoin spent most of the year below it.
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What happened during Bitcoin's May rally?
The May rally stalled just under the ETF cost basis around $81.5K.
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What is the next major level below $81.5K?
The next major level below $81.5K is the True Market Mean at $77.5K.
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What would a break below the ETF cost basis put in focus?
A break below the $81.5K support area would put the True Market Mean at $77.5K back in focus.
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