Bitcoin stalls below $100K as investors sell into rallies, Bloomberg says
- —Two-year buyers' average cost basis sits at $87,000 and above
- —Selling at that zone twice capped rallies, with 25%+ drawdowns after
- —Average entry for spot bitcoin ETF holders is about $81,500
- —Weak AI stocks and tech correlation add to bitcoin's pressure
Why it matters: A sustained close below $81,500 would push ETF holders into losses and could remove on-chain support, raising the risk of further selling.
Source: PANews