Glassnode flags Bitcoin barriers near $87.7K and $80K
Glassnode says Bitcoin faces selling pressure around $87,700 as recent buyers try to exit near their break-even levels. The analysis points to support near $81,500 for US spot Bitcoin ETF holders, just above the $80,000 psychological mark. A drop below $80,000 could trigger liquidations before the market’s average cost basis near $77,500 comes into focus.
Glassnode’s on-chain review links resistance to two buyer cohorts: those who entered six to twelve months ago and those who bought one to two years ago. When price returns to their entry levels, some holders sell to avoid losses, adding supply. The report cites November 2025, when Bitcoin fell below a $94,000 cost basis, and January 2026, when a rally toward $97,100 stalled. A second cohort’s average purchase near $76,900 was underwater in February; in May, a move past $82,000 met selling. Reference points include $87,700 and $99,500.
US spot Bitcoin ETF holders’ support sits near $81,500, above the $80,000 psychological level. A break below $80,000 could trigger liquidations before the market’s average cost near $77,500 comes into view.
The analysis could matter to retail and ETF investors who use cost-basis levels to judge risk, and to traders exposed to liquidations near $80,000. If selling clusters around break-even prices persist, market volatility may increase, potentially affecting portfolios and confidence in crypto assets. It may also influence how financial platforms and commentators frame support and resistance, though the effect on broader society is likely indirect and concentrated among those with crypto exposure.