Glassnode Sees Bullish Signs for Bitcoin as It Breaks Above Resistance

Glassnode has turned bullish on Bitcoin, stating that it has broken above significant cost floors that have been suppressing its price throughout 2026. According to the analytics firm, limited profit-taking and a recovery in trading volumes indicate that the current rally is progressing in a healthier manner compared to previous peak periods.

Glassnode noted that Bitcoin has managed to break above the Real Market Average level, which has acted as resistance for much of 2026. This level is considered critical for a bullish scenario, with a significant supply of long-term investors in the $84,000-$85,000 range.

The next major resistance level in on-chain data is approximately $96,700, corresponding to the average MVRV price. Market makers' hedging actions could accelerate movements between the current price and $92,000, while causing price movements to slow down around $95,000.