BTC has decisively broken below the True Market Mean ($80.2K) for the first time since the bull run began.
This structural anchor has held throughout the cycle. Losing it confirms what price is telling us: bears are in control.
Where's the next support?
Glassnode's URPD shows a dense cost basis cluster between $66.9K-$70.6K, this is where early buyers accumulated.
Historically, these zones act as "shock absorbers" where sell pressure gets absorbed.
The pain is real: Realized losses hit $2.4B in a single day, nearly 2x the 7-day average.
This kind of forced selling often marks short-term bottoms, but "often" isn't "always."
The demand problem: ETF flows have flipped negative. Corporate/treasury buying has faded. Spot volume is structurally weak.
Translation: No one is stepping up to buy what's being sold.
Glassnode's verdict: "Relief rallies are likely to be corrective rather than trend-reversing."
Bounces are for selling until proven otherwise.
Key levels:
- Support: $66.9K-$70.6K
- Resistance: $80.2K (True Market Mean)
- Worst case: $55.8K (Realized Price)
Full report:
