Selling has since slowed, while the analytics firm identifies cost-basis levels near $81,500 and $77,500.
Bitcoin’s rally stalled below roughly $88,000 as investors who acquired coins one to two years ago sold into the advance, Glassnode said in an October 13 post.
The level corresponds to the average acquisition cost of holders who bought six to 12 months ago, according to the onchain analytics firm. Glassnode said selling by the older cohort has since slowed considerably.
In an earlier post quoted alongside the update, Glassnode said Bitcoin had twice found support around the ETF investor cost basis near $81,500. It said the price spent most of the year below that level and the May rally stalled just beneath it.
Glassnode identified the True Market Mean near $77,500 as the next major level below that support. These levels reflect the firm’s cost-basis analysis rather than a forecast of future price movements.
