These Three Metrics Show Bitcoin Found Strong Support Near $80,000

• Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
• The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.

Bitcoin BTC$89,347.94 has so far bounced above $90,000, 15% higher from its Nov. 21 low of around $80,000, with price finding confluence support across three important cost basis metrics: the 2024 yearly volume weighted cost basis, the True Market Mean, and the average U.S. spot exchange-traded fund (ETF) cost basis.

These metrics help to identify where investors are most likely to defend positions during drawdowns. The area of support proved vital, as it aligned closely with the average acquisition prices of multiple investor cohorts.

First, the True Market Mean, represents the average onchain purchase price of bitcoin held by active market participants. It focuses on coins that have moved recently, filtering out long dormant supply, and therefore reflects the cost basis of investors who are most likely to trade.

During this pullback, the True Market Mean sat near $81,000 and acted as clear support. Notably, bitcoin first moved above this level in October 2023 and had not traded below it since, reinforcing its importance as a structural bull market threshold.

Second, the U.S. spot ETF cost basis reflects the weighted average price at which bitcoin has flowed into U.S. listed spot ETFs. This is calculated by Glassnode using the combined daily ETF inflows with the market price.

The average cost basis currently sits around $83,844, according to Glassnode, and bitcoin once again bounced off this level, which it similarly did during the April tariff-driven selloff.

The third metric, the 2024 yearly cost basis, tracks the average price at which coins acquired in 2024 were withdrawn from exchanges. CoinDesk Research has shown a pattern that yearly cohort cost bases tend to act support during bull markets.

In this case, the 2024 cost basis near $83,000, according to checkonchain, provided additional confirmation of demand, again was also seen as support during the April correction.

These metrics highlight the depth of demand of support in the $80,000 region.

• As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
• GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
• Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

• According to the Nikkei, the Bank of Japan (BoJ) is set to increase interest rates to 75bps, the highest level in 30 years.
• Rising Japanese funding costs, alongside falling U.S rates, could force leveraged funds to reduce carry trade exposure, increasing downside risk for bitcoin.

Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. Bullish owns and invests in digital asset businesses and digital assets and CoinDesk employees, including journalists, may receive Bullish equity-based compensation.