Glassnode’s proximity framework sets out how nearby inventory and actual buying could confirm support before the Oct. 27–28 Fed meeting.
Bitcoin’s rebound to around $83,500 raises a practical question: how can traders tell whether support is building? Glassnode’s proximity-weighted cost-basis framework looks at the supply positioned closest to the trading price.
CryptoSlate’s Bitcoin market data showed about $83,500, up roughly 2.8% over 24 hours, at 09:44 UTC on Oct. 21. Glassnode’s Oct. 20 explanation of proximity-weighted cost basis, credited to Fountainhead Digital co-founder Vicky Yang, offers a way to assess that nearby inventory. The framework offers a test for the recovery ahead of the Oct. 27–28 Federal Reserve meeting: whether nearby positioning improves as buyers absorb supply.
That distinction was visible in the earlier backdrop. Glassnode’s Oct. 19 market report described 68.2% of Bitcoin supply as being in profit while spot buying remained weak during its reporting window. That earlier combination shows how broad profitability can coexist with weak demand.
Two visits to a similar price can encounter different inventory conditions. If more of the nearby weighted supply sits below spot on the second visit, the model would show a more supportive distribution. If more sits above it, the same price could face greater potential resistance.
The familiar market value to realized value ratio, or MVRV , divides market capitalization by realized capitalization. It places the market’s valuation against an aggregate cost-basis reference. A reading above one means market value exceeds that reference. Locating inventory relevant to the next price move requires a view of where cost bases sit.
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