Glassnode says Bitcoin remains capped by $88K holder cost basis despite declining selling pressure

Glassnode reports that Bitcoin remains capped by the $88,000 cost basis of holders, a level that has acted as resistance despite declining selling pressure. The analysis also notes ETF outflows and macro-driven vulnerability, suggesting the market lacks the demand to push through that threshold. Traders would watch whether BTC can reclaim $88K, since failure to do so keeps the near-term bias tilted toward further consolidation or downside.