Bitcoin ($BTC) has reclaimed its True Market Mean, a key onchain cost-basis metric. With this, BTC is potentially shifting the market structure back into a bullish regime. In a post on X, Glassnode said Bitcoin has moved back above the True Market Mean. The data identifies the corporate treasury cost basis near $80,000 and the ETF cost basis around $85,000. These two levels are the next major overhead levels for $BTC.

Bitcoin Moves Back Above True Market Mean

The True Market Mean, also known as the Active-Investor Price, measures the average acquisition cost of Bitcoin that has changed hands on secondary markets. Glassnode calculates the metric using Investor Cap relative to Active Supply.

When Bitcoin trades above this level, the average active investor holds an unrealized profit. Conversely, trading below the metric indicates that the average active investor is at an unrealized loss.

A sustained move above the True Market Mean is therefore closely watched by onchain analysts as an indication that Bitcoin is moving away from a weaker market structure. A move above this level suggests regaining positive momentum.

BTC Holds Near $78,000 After Recent Recovery

As of today, Bitcoin is trading above $78,000 across major crypto exchanges. One market snapshot from CoinMarketCap placed the cryptocurrency near $78,281, while some exchanges showed prices closer to $78,100. Bitcoin is up roughly 2% to more than 2.7% over the 24-hour period, depending on the exchange and time of measurement.

The top cryptocurrency has traded within a relatively narrow range over the past week following earlier volatility. Bitcoin moved between roughly $75,000 and $79,600 in this week held its feet tight despite the FED rate hike and CLARITY Act setback.

Bitcoin’s ability to remain above the True Market Mean could determine whether the latest recovery develops further. A sustained move above the $82,000 resistance will likely bring investors into focus as the market evaluates Bitcoin’s next direction.