Bitcoin Reclaims Key Support as Market Awaits Developments

On October 20, Glassnode reported Bitcoin recaptured the 0.85 cost benchmark range, a critical support area for market momentum, after recent fluctuations.

Market strength at this level is crucial; losing it may push Bitcoin to retest lower levels, affecting investor confidence and institutional interest.

Bitcoin Surges Past 0.85 Benchmark Amid Support Speculation

Glassnode stated that Bitcoin has reclaimed the 0.85 cost benchmark range. This signal provides an optimistic outlook as it transforms a key risk level into support. If maintained, market momentum could return, yet uncertainty remains as a loss could lead to retests.

In the immediate aftermath, market participants are evaluating if price stability can be sustained. Institutional activity remains sluggish post-FOMC. While ETF inflows have slowed, derivatives continue to drive liquidity.

Notable reactions within the industry have been muted, with KOLs focusing on broader macroeconomic factors elsewhere.

emphasized the importance of maintaining the cost basis threshold.

Rafael Schultze-Kraft, Co-founder and CTO, Glassnode, noted, “Bitcoin’s cost basis distribution highlights dense support around $110k–$114k, where a large share of supply was acquired. The next major supply zone sits near $117k, which may provide resistance if price tests this level.”

Market Stability Questioned as Bitcoin Hits $110,863

Did you know? Historically, reclaiming the 0.85–0.95 cost benchmark range has been a bellwether for regained stability following significant market fluctuations, especially notable in the aftermath of all-time highs.

As of October 20, 2025, Bitcoin’s price stands at $110,863.15 with a market cap of formatNumber(2.21 trillion), according to CoinMarketCap. Its 24-hour trading volume surged by formatNumber(103.07%), totaling formatNumber(61.09 billion). Recent performance shows a 4.36% rise in 24 hours but a decline over the past three months.

Insights from Coincu’s research indicate that market stability remains fragile. Analysts predict that sustained support might pave the way for potential growth, but caution against lower price tests.