Glassnode: BTC Supported Twice by ETF Cost Basis, Key Support Below at $77,500

On October 13 that, according to analysis by on-chain data platform Glassnode (@glassnode), Bitcoin's price has rebounded from the ETF cost basis. For most of this year, the price remained below this level, and the May rally also stalled beneath it. Currently, BTC has found support twice near $81,500, with the ETF cost basis transitioning from a "resistance level" to a "support level." Should this level break, the next major support level is the realized market average at $77,500.