According to @glassnode, BTC has broken below the Active Investors Mean on-chain cost-basis, making the True Market Mean the next key cost-basis level at 81.9K USD. Source: @glassnode. @glassnode states the True Market Mean level is 81.9K USD and identifies it as the next critical reference for BTC after the break below the Active Investors Mean. Source: @glassnode. This update is based on Glassnode’s on-chain metrics published on Nov 20, 2025. Source: @glassnode.