Bitcoin Slips Below $86,000 ETF Cost Basis as Market Turns Lower
- —Total crypto market cap fell 2.27% to $2.96 trillion
- —XRP lost 5.8%, Dogecoin 8.3% and Hedera 9.9%
- —Uniswap gave back its entire CME futures listing spike
- —Perpetual funding on OKX turned negative for BTC and ETH
Why it matters: Slipping below the ETF cost basis pressures institutional holders and could accelerate outflows from spot funds.
Source: The Defiant