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Bitcoin is retesting the area around $81,000, the average cost basis for spot ETF investors, on-chain analytics firm Glassnode said on X.
Glassnode said the price level acted as resistance that capped BTC’s rally in May, while last week it helped trigger a rebound after a brief pullback. The firm added that if BTC posts a clear close below $81,000, it could see a further decline into the mid-$70,000 range.