Glassnode analyzed that if Bitcoin maintains its price above $84,000, it could continue its upward trend to the next major resistance level. According to CryptoBriefing, Glassnode stated, "As the inflow of funds into US Bitcoin spot ETFs strengthens and spot market trading activity recovers, there is a possibility that Bitcoin's recovery could extend to $95,000-$97,000." They added, "Currently, Bitcoin has surpassed $77,000, which represents the TMM (True Market Mean), the average acquisition cost of active BTC excluding long-term inactive supply, and has moved past the key price range of $84,000-$85,000 where long-term holder supply is concentrated. The next major resistance level is $96,700, which is also close to the area where options market positions are concentrated. However, if the $84,000 line is breached downwards again, the $77,000 support level could once again come into focus." They further reported, "During this upward trend, selling pressure has remained relatively limited. Bitcoin holders are not yet actively engaging in profit-taking."
