Glassnode: Bitcoin Retests True Market Mean

Glassnode states that Bitcoin is retesting the True Market Mean and that a pullback all the way to the short-term holder cost basis at $75.8k would remain a constructive setup for continuation, with such retests normal in an uptrend as seen in mid-September just days before the subsequent high.

Price at $77333.5 sits below the EMA50 at $80315.8 and EMA200 at $81492.58, confirming the bearish trend structure on the 4h chart while the MACD death cross at -814.68 reinforces downside momentum; with the market trading inside the Bollinger Bands, the upper band at $82984.61 acts as near-term resistance and the lower band at $76869.98 as immediate support, so a measured retracement toward the $75.8k zone aligns with the short-term holder cost basis before any resumption higher.