Bitcoin Remains Below Glassnode’s $77,200 True Market Mean
Glassnode's latest report indicates Bitcoin continues to trade below its "True Market Mean," a key on-chain model estimating the average acquisition price of economically active coins at approximately $77,200. With BTC price roughly 15% below this level, the market is characterized as being in a repair or bearish regime rather than a confirmed bullish recovery. Trading below this cost-basis metric suggests a significant portion of active supply is under pressure, which can hinder rallies as underwater investors may sell into rebounds. The report highlights ongoing stress among short-term holders, contributing to market sensitivity. While a defense of current support levels shows demand, a sustained reclaim of the $77,200 True Market Mean is viewed as a more constructive signal for a broader regime shift than a simple relief bounce. For a bullish recovery to be confirmed, the market needs sufficient demand to overcome this overhead cost pressure.
bitcoinist06/19 00:02
