Bitcoin held the average price paid by US spot bitcoin ETFs and corporate treasuries after a brief drop to $80.1K on Oct. 15, according to Glassnode’s latest weekly on-chain report.
Buyers defend the $80K floor
Glassnode estimates that treasury companies hold their bitcoin at an average cost of about $80.2K.
The firm’s analysts wrote:
“With both cost bases between $80K and $81.5K, the October 15 sweep tested two of the largest holder groups at once.”
Glassnode said Binance bids at $80K were mostly filled during the dip, but they returned by Oct. 20.
Supply stacks up near $87K
According to Glassnode, coins bought six to 12 months ago carry a cost basis near $86.7K, right inside a block of asks and the largest liquidation clusters.
The report noted:
“A move toward $87K could gain speed as short positions are forced shut, but it would…
