Bitcoin Holds at $81K as Next Target Looms at $85K

Bitcoin (BTC) is drawing attention as it breaks above the $81,000 mark, signaling a potential shift to a stronger upward trend. According to Glassnode data and analysis from Rext Capital, Bitcoin's price is now targeting the $82,000 resistance level after recovering its 'true market mean'.

The cryptocurrency held support at $76,660 despite setbacks including the failure of the Clarity Act and concerns over interest rate hikes. This recovery of average acquisition cost has laid the foundation for a rebound, with Glassnode reporting that Bitcoin has regained its true market mean price of $76,660.