- Bitcoin has reclaimed $81,000 and key cost-basis levels, strengthening its bullish setup.
- The next major test is $85,000, with short liquidations potentially adding buying pressure if BTC moves higher.
Bitcoin has climbed back above $81,000 after reclaiming a key on-chain price level, putting $85,000 in focus as the next major resistance. BTC is also showing positive Strength, while a large concentration of short positions between $83,000 and $86,000 could increase volatility if prices continue higher.
$BTC has reclaimed the True Market Mean.
That puts price back above a crucial level and back into a bullish regime.
Next major overhead is the corporate treasury cost basis around $80k and finally the ETF cost basis at $85k. pic.twitter.com/oySdiazgCE
— glassnode (@glassnode) September 18, 2026
Bitcoin Reclaims True Market Mean
Bitcoin traded above $81,300 on Monday after gaining more than 5% over the previous week. The move pushed BTC back above the True Market Mean, which Glassnode currently estimates at around $76,660.
The True Market Mean represents the average acquisition price of active Bitcoin market participants. When BTC trades above this level, recent buyers are collectively sitting on unrealized profits.
Glassnode described Bitcoin’s move above the metric as a return to a bullish market regime. BTC has also moved above the estimated corporate treasury cost basis of $80,421, meaning the average corporate buyer is back in profit.
The next major cost-basis level sits higher at around $85,638. This represents the estimated average purchase price for US spot Bitcoin ETF investors.
That makes the $85,000 area an important test for Bitcoin. Investors who bought near that level could decide to sell when BTC approaches their average entry price, creating additional resistance.
Bitcoin Faces Resistance Between $83K and $86K
Bitcoin is also approaching a significant supply and liquidation zone between $83,000 and $86,000.
Glassnode estimates that investors accumulated about 1.07 million BTC within this range. A large portion of that supply is held by long-term investors, which could add selling pressure if Bitcoin enters the zone.
At the same time, leveraged short positions have accumulated below $86,000 over recent weeks. A continued Bitcoin rally could force some of those traders to close their positions by buying BTC.
That could create a short squeeze and accelerate the move through the resistance area.
Glassnode’s leverage data also suggests that speculative activity across altcoins has not yet reached levels typically associated with excessive risk. This leaves room for the broader crypto market to continue recovering, although rising open interest could increase liquidation risk.
Bitcoin Price Targets $85K
Bitcoin remains above its 50-day, 100-day and 200-day exponential moving averages. These averages are currently positioned between roughly $72,000 and $75,000, keeping BTC well above its major medium- and long-term trend levels.
The 50-day EMA is also above the 100-day and 200-day EMAs, while all three averages are moving higher. This structure supports the broader bullish trend.
Bitcoin’s Relative Strength Index stood near 64 on Monday. That puts BTC in bullish territory but still below the commonly used overbought level of 70.
The Moving Average Convergence Divergence indicator has also turned positive, pointing to renewed upside momentum after an earlier period of cooling.
The next major hurdle is around $85,000. A sustained move above this level could open the way for Bitcoin to test higher price levels, while failure to break through could trigger profit-taking and another period of consolidation.
If Bitcoin pulls back, the 50-day EMA near $74,807 provides the first major dynamic support. The 200-day EMA around $73,458 and the 100-day EMA near $72,240 form a broader support zone.
Further downside support sits around $66,500 and $62,300. A move below those levels would put greater pressure on the current bullish structure.
For now, Bitcoin’s recovery above the True Market Mean and corporate treasury cost basis leaves $85,000 as the next major level for BTC buyers to overcome.
ALSO READ: GBTC ETF: How Grayscale’s Bitcoin Trust Became an ETF
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