BITCOIN 'TOP BUYERS' HALT BTC PRICE UPSIDE WITH $87.7K NOW KEY: GLASSNODE

Summary from the TLDR Crypto newsletter

Glassnode identifies the $87,000–$87,700 zone as the primary resistance for Bitcoin, where 6-12 month holders sit near their cost basis (~$87,700) and sell into rallies, absorbing new buy-side demand before price can advance. Two additional levels reinforce this ceiling: the 2026 opening price at $87,490 and the 20-month simple moving average at $87,165, a band that preceded new all-time highs when reclaimed as support in prior cycles. Below spot, the $80,000–$81,500 range represents overlapping order-book and on-chain support, anchored by the cost basis of US spot Bitcoin ETF holders ($81,500) and concentrated bid liquidity at $80,000. A breach of that zone would expose a liquidation cluster just under $80,000, followed by the true market mean at $77,500 and short-term holder breakeven at $74,600 as the next structural floor.