Glassnode’s Wednesday, Oct. 14, report laid out two Bitcoin (BTC) cost benchmarks: about $78,000 for active investors and $88,000 for coins bought six to 12 months earlier; CoinShares’ 2026 outlook also included a scenario above $150,000.
Published Dec. 8, 2025, CoinShares’ outlook set out multiple macro scenarios. It put Bitcoin above $150,000 in a case combining a soft landing with productivity gains. Its subdued but stable growth scenario gave a lower range of $110,000 to $140,000. Both were 2026 scenarios, with the higher figure conditional on those economic assumptions.
Glassnode calls the roughly $78,000 level the True Market Mean, its measure of active investors’ average cost basis. The firm put the average purchase price for U.S. spot Bitcoin exchange-traded funds (ETFs) at about $81,500 and identified the largest bids on Binance’s order book near $80,000. These figures track different measures: investor cost bases, an ETF purchase average and bids on an exchange.
Farside Investors data showed net outflows of $261.4 million on Wednesday, Oct. 14, and $82.4 million on Friday, Oct. 16; Thursday, Oct. 15, brought a $5.1 million net inflow.
The $88,000 supply area was close to Bitcoin’s 20-month moving average of $87,165 on Friday, Oct. 16, a benchmark covered in earlier EconoTimes reporting on the 20-month average.
Glassnode said it would read a daily close above $88,000 together with a return to ETF inflows as evidence of improving demand conditions. The report identified the $78,000 True Market Mean as a closer reference if Bitcoin fell beneath the roughly $80,000 Binance bid zone.
