Bitcoin at $80,913 sits below spot ETF cost basis of $81,500
- —Bitcoin gained 1.72% over 24 hours, trading between $79,416 and $81,159
- —The price is down 2.06% on the week and 36% below the $126,080 record
- —US spot Bitcoin ETFs drew $110.34 million on Monday and a reported $149 million on Tuesday
- —Investors pulled about $773 million from the funds on October 22–23
Why it matters: The ETF cost basis acts as resistance: above $81,500, selling from investors seeking to exit at break-even is likely to increase.
Source: CryptoTicker