Glassnode: Bitcoin holds near $80K cost basis as older-holder selling fades
Bids at $80,000 refilled after the Oct. 15 sweep, while selling by 1–2 year holders fell to under a third of its early-October peak, Glassnode says.
BITCOINPRICE ANALYSIS
Daniel Hartley
10/21/20261 min read
Bitcoin swept down to about $80,000 on October 15, posting an hourly close of $80,100, before buyers refilled bids at that level within days, Glassnode said in its weekly on-chain report published October 21. The level matters because the average cost basis of US spot ETF holders sits near $80,000, and treasury companies' average cost is about $80,200.
Glassnode found that selling by holders of 1–2 year old coins peaked in early October and now moves less than a third as many coins per day. Realized profit has slowed to roughly half its pace during the week of the September high. The cost basis of 6–12 month holders fell to about $86,700, while the 1–2 year cohort sits near $100,000.
Spot ETFs logged net inflows of about $653 million on October 19, the largest day since September 22, though 30-day average volume remains under a quarter of its level a year earlier. On Binance, the main ask block sits between $86,500 and $87,500, and the largest liquidation clusters are near $85,000 and $87,000. Treasury-company buying has stayed weak since June.
Source: Glassnode.