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The Bitcoin price surged past $73,000 in the past week, indicating an improved investor risk appetite despite the overwhelming sentiment. This recent rally has been attributed to several factors, but most notably the announcement of a temporary ceasefire in the US-Iran conflict. With the rise in the spot market, other pricing models are emerging with key implications for future market movements.
Bitcoin Maintains Key Support At $54K – Details
Prominent analytics firm Glassnode shared an update on the important on-chain price models following the latest market rally. Notably, these models track the average acquisition costs of different cohorts, providing a framework for identifying support, resistance, and overall market health.
As Bitcoin’s spot price rose to $71,800, the Short-Term Holder (STH) Cost Basis was valued at $81,300, representing the average purchase price of recent market entrants over the last 155 days. Historically, this level has served as a key sentiment gauge, as short-term holders are the most reactive investor cohort. With prices below this level, short-term investors are largely underwater and are likely to increase sell pressure on potential rebounds, thus forming a key market resistance level.
🔄 Update:
With the spot price trading at $71.8K, the key on-chain price models are as follows:🟡 Active Investors Mean: $85k
🔴 STH Cost Basis: $81.3K
🟢True Market Mean: $78K
—- Spot Price: $71.8K —-
🔵 Realized Price: $54.2K📊 https://t.co/mJ1JCnjTff https://t.co/hn9QFtRVgJ pic.twitter.com/Jw5AK7vvb0
— glassnode (@glassnode) April 10, 2026
Similarly, the Active Investors Mean, positioned at $85,000, remains significantly above the current spot price. This metric reflects the average cost basis of economically active market participants and often serves as a proxy for broader market confidence. With Bitcoin still significantly away from this level, the majority of active capital is holding at a loss, resulting in heavy market caution.
Another critical price metric highlighted by Glassnode is the True Market Mean at $78,000, which represents a more refined estimate of the market’s fair value by adjusting for lost coins and inactive supply. Trading below this level indicates that Bitcoin remains in a discount zone relative to its adjusted economic baseline.
However, the Realized Price, currently at $54,200, continues to provide strong structural support on the macro scale. This level reflects the average on-chain acquisition price of all circulating Bitcoin and typically represents the market capitulation threshold. With spot price holding well above this threshold, the long-term bullish structure remains intact despite the recent prolonged correction.
Bitcoin Price Overview
At press time, Bitcoin is valued at $72,700, up 10% over the last week. According to Glassnode’s analysis, the next critical resistance level lies around $78,000, breaking past which could signal a solid bullish recovery.
