BTC has decisively broken below the True Market Mean ($80.

BTC has decisively broken below the True Market Mean ($80.2K) for the first time since the bull run began.

This structural anchor has held throughout the cycle. Losing it confirms what price is telling us: bears are in control.

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Where's the next support?

Glassnode's URPD shows a dense cost basis cluster between $66.9K-$70.6K, this is where early buyers accumulated.

Historically, these zones act as "shock absorbers" where sell pressure gets absorbed.

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The pain is real: Realized losses hit $2.4B in a single day, nearly 2x the 7-day average.

This kind of forced selling often marks short-term bottoms, but "often" isn't "always."

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The demand problem: ETF flows have flipped negative. Corporate/treasury buying has faded. Spot volume is structurally weak.

Translation: No one is stepping up to buy what's being sold.

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Glassnode's verdict: "Relief rallies are likely to be corrective rather than trend-reversing."

Bounces are for selling until proven otherwise.

Key levels:

• Support: $66.9K-$70.6K
• Resistance: $80.2K (True Market Mean)
• Worst case: $55.8K (Realized Price)

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Full report: