Bitcoin pushes above $81K, faces liquidation test between $83K and $86K

Bitcoin (BTC) rose above $81,000 on Friday after climbing back above the True Market Mean, signaling that the market could potentially have moved back into a bullish regime.

Bitcoin reclaims key market level amid growing resistance

The True Market Mean, at $76,660, represents the average price paid by active trading participants. BTC’s move back above the level often signals a return to bullish territory and can trigger positive short-term sentiment.

“That puts price back above a crucial level and back into a bullish regime,” analytics firm Glassnode wrote in an X post on Friday.

With Bitcoin trading above the True Market Mean, attention is now shifting toward the next major cost-basis barrier. Glassnode identified the corporate treasury cost basis at around $80,421, followed by the US spot Bitcoin ETF cost basis near $85,638.

These levels represent the average acquisition prices of two important investor groups and could provide fresh tests as the rally extends.

Bitcoin is also approaching a thickening liquidation shelf, according to Glassnode. The firm stated that a dense cluster of potential short liquidations has formed between $83,000 and $86,000, adding another layer to the resistance area.

The $83,000-$86,000 zone had previously been identified as a major resistance region, as investors acquired roughly 1.07 million BTC between those levels, with much of the supply held by long-term holders.

Glassnode’s data suggests that if Bitcoin enters the $83,000-$86,000 area, forced short covering could accelerate the move through the zone.

“If reached, price could move quickly through this zone as shorts are forced to cover. These shorts have been building for several weeks,” Glassnode stated.

Beyond BTC, Glassnode’s latest leverage data points to further potential in the altcoin market. The firm noted that altcoin leverage remains below its risk threshold.

“When the share of altcoin open interest comes within a few percent of Bitcoin's, the market is usually overheated,” Glassnode shared.

That condition has not yet been met, indicating that the altcoin market has room for another leg higher.

Bitcoin hashrate resumes upward trend as miner activity strengthens

As futures data points to a potential market rally, CryptoQuant contributor CW8900 showed that BTC’s hashrate has ended its recent downward trend and is gradually increasing again.

Rising hashrate indicates greater mining activity and can support the network’s security while also reflecting changes in miners’ economic conditions.

The firm noted that increased miner activity has historically coincided with bullish Bitcoin price trends. However, the relationship can run both ways because miners also tend to increase activity when BTC prices rise.

“Increased miner activity acts as a positive factor for the $BTC price,” CW8900 wrote.

A higher hashrate can also raise the cost of mining Bitcoin, reinforcing the network's economic value.

Bitcoin traded at $81,091, up 6.2% in the past 24 hours at the time of writing.