Glassnode estimates the average purchase prices of U.S. spot Bitcoin ETFs and publicly listed companies’ treasuries separately, at about $81,500 and $80,200, respectively. With the price back near $80,000, the latest buyers are close to breaking even on paper. Whether buyers will keep absorbing supply is being tested here.
But these are averages, not promises of a price floor: the ETF figure reflects the average cost of fund holdings, while the treasury figure tracks what companies themselves paid. And buy orders on the order book can be canceled. Ahead of Friday’s inflation data, $80,000 looks more like a test than a guaranteed floor.
But these are averages, not promises of a price floor: the ETF figure reflects the average cost of fund holdings, while the treasury figure tracks what companies themselves paid. And buy orders on the order book can be canceled. Ahead of Friday’s inflation data, $80,000 looks more like a test than a guaranteed floor.