Glassnode: BTC Spot at $68.8K Trails Key On-Chain Means

Glassnode updated on-chain models with BTC spot trading at $68.8K, placing Active Investors Mean at $85.1K, True Market Mean at $78.0K, STH Cost Basis at $76.9K and Realized Price at $54.0K.

These levels mark the distance between current price action and average cost bases accumulated over the past six to twelve months, highlighting how far spot has detached from investor entry points.

Price action on the 4h chart shows a bearish trend with price testing the lower Bollinger Band support near $68840.69 while EMA50 sits at $73559.93 and EMA200 at $76117.59 as concrete resistance; RSI at 14.78 signals oversold momentum and MACD at -1283.83 confirms the death cross, suggesting exhaustion at support before any relief toward the 50-EMA.