Bitcoin Tests $109K Support at 0.85 Cost Basis Zone

Bitcoin returned to test support near $109,000 on Oct. 31, corresponding to the 0.85 cost basis zone, Glassnode data show. This level has historically served as a critical threshold where holding support typically triggers significant rebounds, while a break below often leads to further downside toward the 0.75 cost basis zone at approximately $98,000. The cost basis zones represent key on-chain metrics that track the average acquisition price of Bitcoin across different investor cohorts.