Glassnode: Bitcoin Will Return to an Uptrend if It Surpasses $83,000

The Glassnode vector model has shifted to a risk-on phase following Bitcoin's (BTC) price increase above $70,000. This is the first bullish signal since Bitcoin began its downward trend from a peak of $126,000 in October 2025. Bitcoin's rise above $70,000 has placed the price above the average purchase price for most recent buyers, reducing the incentive for breakeven sales. However, the Glassnode macro status index remains in a risk-off state. To maintain an uptrend, Bitcoin's price must stay above the short-term holders' average cost basis at $70,200, the market's realized average at $76,200, and the 200-day moving average at $69,100. A decisive break above $83,000 is necessary to establish a higher peak and return to an uptrend. Additionally, Bitcoin spot funds in the U.S. have attracted a total of $1.92 billion in inflows from August 20 to September 2, indicating real demand. The shift of the Glassnode vector model to a risk-on phase and the positive flow of $1.9 billion suggest a return of buyers to the market, but to convert this rally into a sustainable uptrend, it is essential to hold the support at $76,200 and break through the resistance at $83,000.

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