Bitcoin Is Above the U.S. ETF Cost Basis Again. The Line Is $81,722. This morning’s move through $85,000 put the average fund holder back in profit. According to Bloomberg Intelligence, U.S. spot Bitcoin ETFs have a gross cost basis of $81,722, and $BTC is $85,165 on this chart after bouncing from the $58,642 June low. As of September 18 the average book was still −$0.78 billion, so the push through $81,722 is what flipped that cohort back into profit for the first time since January. Key Details: > ETF cost basis: $81,722. > Bitcoin on this chart: $85,165. > Cycle low shown: $58,642. > September 18 unrealized: −$0.78 billion. > Peak unrealized in October 2025: $86.32 billion. $81,722 is now the level that keeps ETF holders in profit. Hold it and that bid can stay. Lose it and the same cohort can sell the way it did after January. $BTC $85,165 vs ETF Cost Basis $81,722. Fund Holders Back in Profit. Do you treat $81,722 as the level that keeps ETFs from selling, or do you still watch daily flows first? #BTC Price Analysis# #Bitcoin Price Prediction: What is Bitcoins next move?# $ETH #Macro Insights#