BTC breaks through the key cost area of US$85000 to become the next key resistance level

Glassnode's latest report pointed out that Bitcoin has exceeded the real market average (US$78,200) and the short-term holder cost price (US$79,100). If the above range can continue to stabilize in the coming week, the "deep value stage" since 2026 may become the shortest duration in Bitcoin history. The next key resistance level in the current market is at around $85,200. Chain data shows that the average net realized profit and loss on the 30th day has turned positive to 0.003% of market value, and the realized profit of long-term holders has increased to US$180 million per day, but it is still significantly lower than the US$1 billion level at the peak of this cycle. However, the market's realized losses are still as high as US$479 million per day, 140% higher than the stable range of this cycle. Glassnode believes that a sustained fall below $200 million is needed to confirm a healthier recovery in demand. In terms of funds, the 30-day net inflow of the U.S. spot Bitcoin ETF turned positive again, indicating that institutional demand is recovering. At the same time, the perpetual contract funding rate remains negative during the rise, indicating that short positions in the market are still heavy. If short positions continue to be squeezed, they may further push the rise. In addition, there is a "ShortGamma" position cluster area of approximately US$2 billion near US$82,000, and market makers 'hedging behavior may amplify price fluctuations. Glassnode believes that the overall trend of Bitcoin is still strong, but the market has entered a more sensitive stage. Without continued spot buying support, there may be significant selling pressure around US$85,000.