Bitcoin bulls eye $85,200 ceiling as $1.69B ETF inflow streak and macro tailwinds build the case!

Bitcoin has cleared two structurally significant onchain cost basis levels — the True Market Mean at $78,200 and the Short-Term Holder Cost Basis at $79,100 — putting the majority of active market participants back in profit for the first time since the late-2025 drawdown. Trading above both levels is historically associated with improving sentiment and reduced selling pressure, according to Glassnode's weekly onchain report. The next test is the Active Realized Price at $85,200, which tracks the cost basis of all non-dormant supply and marks the threshold where overhead selling is likely to intensify.

Spot bitcoin ETFs have reinforced the recovery. The cohort logged their fifth consecutive day of net inflows on Wednesday — $46.3 million on the day — bringing the five-day total to $1.69 billion, the longest inflow streak since July 2025. The 30-day moving average of ETF net flows has…

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