BTC needs to hold above $84K-$85K to extend gains, Glassnode says

Bitcoin is facing resistance in the $84,000-$85,000 range, where long-term holders are most heavily concentrated, according to a Glassnode analysis. In a post on X, Glassnode said sustaining the uptrend would require BTC to break through that range and hold above it. The chart showed the average MVRV price, or the level at which aggregate BTC holder returns are in line with the historical average, at $96,900, while the true market mean, or the average cost basis of more actively trading investors, stood at $77,200.