Glassnode sees BTC rising to $95K-$97K if it holds above $84K

Glassnode said Bitcoin could extend its rebound toward the next major resistance zone at $95,000-$97,000 if it holds above $84,000, according to Crypto Briefing. The firm said stronger inflows into U.S. spot Bitcoin ETFs and a recovery in spot-market trading activity could support the move. Glassnode added Bitcoin is now trading above the True Market Mean, or TMM, at $77,000, which it described as the average cost basis of active BTC excluding long-dormant supply, and has also moved past the $84,000-$85,000 range where long-term holder supply is concentrated. The next key resistance is around $96,700, a zone close to where options market positions are also concentrated, it said. If Bitcoin falls back below $84,000, however, the $77,000 support level could come back into focus. Glassnode also said selling pressure has remained relatively limited during the latest advance, with holders not yet moving aggressively to take profits.