Bitcoin Faces $85,000–$87,500 Supply Test After $80,000 Rebound
Summary
Glassnode’s October 21 report identifies $85,000–$87,500 as an overhead Bitcoin supply zone, where holder cost bases, sell orders and leveraged positions converge. After Bitcoin dipped toward $80,000 on October 15, bids returned near that level. The report also places the True Market Mean around $77,600 and tracked corporate treasuries’ average acquisition cost near $80,200. These levels indicate potential areas of competing buying and selling incentives, not a reliable prediction: order books can change, and liquidation maps and cost-basis figures rely on estimates. A sustained move through the upper zone could signal something different from a brief spike and reversal.
