BTC has fallen below multiple on-chain cost lines, where is the next support level?

According to the latest data from glassnode, BTC has now fallen below several key on-chain cost lines.

First, let's talk about the short-term holding cost (STH Cost Basis): the position of 90,900 USD has not been maintained. The average cost of active investors at 88,100 USD has also been breached.

Looking down, the $81,700 level is quite critical — this is the True Market Mean. If this level is also broken, then we need to pay attention to $56,400, which is the Realized Price, and this can be considered a relatively long-term support reference.

These data points can serve as anchor points for assessing support strength, and are worth monitoring for short-term trading.