81.5k — the approximate cost basis of U.S. spot Bitcoin ETF holdings, according to Glassnode’s latest report.
$BTC What’s the current price? 81,705.
I paused when I saw these numbers: it’s only about $200 away, with the price basically hovering right around institutions’ cost basis. Honestly, this kind of price action is the most nerve-racking.
Glassnode’s key range is $80,000 to $88,000:
• Above, at $88,000: the average cost basis of buyers from the past 6–12 months, acting as resistance
• Below, at $81,500: the ETF cost basis, acting as support
Today’s market really is stuck. $BTC 24h is down 1.79%, $ETH is down 3.05%, and only 5 of the 19 coins are up. The Fear and Greed Index is at 53—neither here nor there, right in neutral territory 😐
Three personal takes, purely subjective—feel free to disagree:
• I’ve always been skeptical of the claim that “the ETF cost basis is support.” Cost basis isn’t a promise; when prices reach that level, institutions will still manage risk. Don’t treat it as an unbreakable floor.
• The BTC long/short ratio is 1.77, and ETH’s is 3.37, so longs outnumber shorts. But honestly, having more people on one side has never been a reason for prices to rise.
• My move: watch and wait. When the market is hovering near key levels, chasing every move is the easiest way to get whipsawed.
On a related note, VanEck withdrew its S-1 filing for a Lido Staked ETH ETF. The official explanation is that it will no longer pursue the launch. $ETH fell harder than BTC today. I won’t speculate about whether the two are related, but sentiment-wise, it certainly doesn’t help.
So here’s the question: do you think the ETF cost basis at $81,500 will hold this time around?
#Binance #BTC #ETH #BitcoinETF
$BTC What’s the current price? 81,705.
I paused when I saw these numbers: it’s only about $200 away, with the price basically hovering right around institutions’ cost basis. Honestly, this kind of price action is the most nerve-racking.
Glassnode’s key range is $80,000 to $88,000:
• Above, at $88,000: the average cost basis of buyers from the past 6–12 months, acting as resistance
• Below, at $81,500: the ETF cost basis, acting as support
Today’s market really is stuck. $BTC 24h is down 1.79%, $ETH is down 3.05%, and only 5 of the 19 coins are up. The Fear and Greed Index is at 53—neither here nor there, right in neutral territory 😐
Three personal takes, purely subjective—feel free to disagree:
• I’ve always been skeptical of the claim that “the ETF cost basis is support.” Cost basis isn’t a promise; when prices reach that level, institutions will still manage risk. Don’t treat it as an unbreakable floor.
• The BTC long/short ratio is 1.77, and ETH’s is 3.37, so longs outnumber shorts. But honestly, having more people on one side has never been a reason for prices to rise.
• My move: watch and wait. When the market is hovering near key levels, chasing every move is the easiest way to get whipsawed.
On a related note, VanEck withdrew its S-1 filing for a Lido Staked ETH ETF. The official explanation is that it will no longer pursue the launch. $ETH fell harder than BTC today. I won’t speculate about whether the two are related, but sentiment-wise, it certainly doesn’t help.
So here’s the question: do you think the ETF cost basis at $81,500 will hold this time around?
#Binance #BTC #ETH #BitcoinETF