Data: BTC breaks through the key cost zone, $85,000 becomes the next key resistance level

Mars Finance News, Glassnode’s latest report indicates that Bitcoin has broken through the true market average (78,200 USD) and the short-term holder cost basis (79,100 USD). If it can remain above this range for the next week, the “deep value phase” since 2026 may become the shortest in Bitcoin’s history. The current key resistance level in the market is around 85,200 USD. On-chain data shows that the 30-day net realized profit and loss average has turned positive to 0.003% of market value. Long-term holders’ realized profits have risen to 180 million USD daily, but still significantly below the over 1 billion USD peak during this cycle. However, the market’s realized losses remain high at 479 million USD daily, 140% above the stable range of this cycle. Glassnode believes that a continued decline below 200 million USD is necessary to confirm a healthier demand recovery. Regarding capital flow, the 30-day net inflow of the US spot Bitcoin ETF has turned positive again, indicating institutional demand is recovering. Meanwhile, the funding rate for perpetual contracts remains negative during the upward process, suggesting that market short positions are still heavy. If shorts continue to be squeezed, it could further drive prices higher. Additionally, there is an approximately 2 billion USD “Short Gamma” position cluster near 82,000 USD, and market maker hedging behavior may amplify price volatility. Glassnode believes that Bitcoin’s overall trend remains relatively strong, but the market has entered a more sensitive stage. Without sustained spot buying support, there may be significant selling pressure around 85,000 USD.