Glassnode: Bitcoin Tests ETF Cost Basis at $81K

Glassnode notes bitcoin is testing the ETF cost basis around $81K again, the same level that capped the May rally before a deep drop and caught last week's sweep from just below.

A convincing close below it would put mid $70K levels back into play.

Price sits at $82054 on the 4h chart inside a bearish structure where EMA50 at $82575 and EMA200 at $82139 both act as overhead resistance while MACD prints a death cross at 251. With RSI neutral at 44.86 and price inside the Bollinger band between $80890 support and $84500 resistance, the $81K ETF cost basis now aligns with the upper band as short-term exhaustion; a rejection here keeps the path open toward the lower band before any sustained recovery attempt.