[Bitcoin Nears $87,000, ETF Holders Return to Profit Zone]
Bitcoin’s price is edging toward $87,000. This key psychological level has pushed the average cost basis for investors in U.S. spot Bitcoin ETFs back into the profit zone. According to information shared by Bloomberg ETF analyst James Seyffart on the X platform on Monday, due to a rise in the early trading session in New York, the average investor’s cost basis (about $81,700) has returned to a profitable position—marking the first time this has occurred since January of this year.
Despite last week’s setback for the key crypto legislation, the “Clarity Act,” and the Federal Reserve’s interest-rate hikes, Bitcoin still broke above $86,000, reaching an intraday high of $86,800. The latest quote is around $86,800. This level remains more than 30% below last year’s all-time high of $126,000.
Regarding fund flows, U.S. spot Bitcoin ETFs managed by institutions such as BlackRock, Fidelity, Grayscale, and Morgan Stanley recorded more than $6 million in net inflows last week. Over Thursday and Friday alone, investors added nearly $593 million. According to Coinglass data, the ETFs currently have total assets under management of $98.8 billion.
The next key watchpoints are whether the breakout above the $87,000 integer level is confirmed and whether ETF fund flows remain sustained. If the price holds above $86,800 and continues to attract institutional net inflows, it could trigger a technical breakout and renewed momentum-driven buying. Conversely, if it falls back below $86,000, it will be important to monitor whether ETF cost-basis support can be quickly depleted.
Bitcoin’s price is edging toward $87,000. This key psychological level has pushed the average cost basis for investors in U.S. spot Bitcoin ETFs back into the profit zone. According to information shared by Bloomberg ETF analyst James Seyffart on the X platform on Monday, due to a rise in the early trading session in New York, the average investor’s cost basis (about $81,700) has returned to a profitable position—marking the first time this has occurred since January of this year.
Despite last week’s setback for the key crypto legislation, the “Clarity Act,” and the Federal Reserve’s interest-rate hikes, Bitcoin still broke above $86,000, reaching an intraday high of $86,800. The latest quote is around $86,800. This level remains more than 30% below last year’s all-time high of $126,000.
Regarding fund flows, U.S. spot Bitcoin ETFs managed by institutions such as BlackRock, Fidelity, Grayscale, and Morgan Stanley recorded more than $6 million in net inflows last week. Over Thursday and Friday alone, investors added nearly $593 million. According to Coinglass data, the ETFs currently have total assets under management of $98.8 billion.
The next key watchpoints are whether the breakout above the $87,000 integer level is confirmed and whether ETF fund flows remain sustained. If the price holds above $86,800 and continues to attract institutional net inflows, it could trigger a technical breakout and renewed momentum-driven buying. Conversely, if it falls back below $86,000, it will be important to monitor whether ETF cost-basis support can be quickly depleted.