Bitcoin Surges to $80,000, On-Chain Data Points to $85,200 Resistance

According to CoinDesk, Bitcoin has surged from approximately $63,000 to above $80,000 over the past three months, with multiple indicators aligning toward an $85,200 target. On-chain analysis by Glassnode shows BTC has broken through the “realized price mean” ($78,200) and “short-term holder cost basis” ($79,100), with the next resistance level near the active realized price of $85,200. In derivatives markets, futures funding rates have shifted from negative to neutral, while options market makers hold approximately $2 billion in short gamma exposure near $82,000, positioning for potential upside momentum.