Bitcoin faces resistance at $88,000 and $100,000 levels

Bitcoin is currently facing significant resistance at two key price levels. Data from Glassnode indicates that two major groups of investors are creating selling pressure. The first group, who purchased coins 6 to 12 months ago, has an average cost basis of approximately $88,000. The second group, holding assets for 1 to 2 years, has a higher average purchase price near the $100,000 mark.

These levels act as psychological barriers where investors may sell to avoid losses. To maintain a sustained buying regime, the market is looking for Bitcoin to close daily above $88,000. On the support side, a key level near $81,500 represents the average purchase price for US spot ETFs, while the True Market Mean at $78,000 serves as another critical metric for market stability.