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Bitcoin ETF Investors Underwater as Price Breaks $89.6K Cost Basis
By
Coin Edition
12 days ago
ROSE
ETF
ETF
BTC
CIN
- Bitcoin fell below $89,600, pushing U.S. spot ETF investors into losses.
- Crypto ETPs saw $2 billion in outflows last week.
- Analysts suggest Bitcoin is nearing a bottom, describing the current price as a “generational opportunity.”
Bitcoin has now retreated below a key cost-basis level, officially pushing U.S. spot Bitcoin ETF investors into the red.
Data from Glassnode’s Sean Rose shows the average ETF investor cost basis sits around $89,600, a level Bitcoin broke on Tuesday. The decline means spot ETFs are now holding unrealized losses.
Bitcoin ETF Realized Price Now Lost
On Monday, analyst JA Maartunn reported that the ETF’s realized price was just 9% away from breakeven with Bitcoin at the time. With Bitcoin now hovering just below that level, institutional holders are slipping into losses.
Analysts believe it could trigger further selling from ET…
Read The Full Article Bitcoin ETF Investors Underwater as Price Breaks $89.6K Cost Basis On Coin Edition.
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