#bitcoin reached $86,857 on Bitstamp after buyers cleared a band of sell orders near $85,000, per Glassnode. Short liquidations hit $122M in 24 hours, $210M across all crypto. 1/3
About $86,000 is the aggregate breakeven for US spot bitcoin ETF holders. In real brokerage data, investors sold winners more readily than losers, the disposition effect (Odean, 1998). Breakeven is where a paper loss turns into a winner. 2/3
A grid sells each lot one level above its own buy. The average cost of everything bought so far never enters the decision. 3/3
About $86,000 is the aggregate breakeven for US spot bitcoin ETF holders. In real brokerage data, investors sold winners more readily than losers, the disposition effect (Odean, 1998). Breakeven is where a paper loss turns into a winner. 2/3
A grid sells each lot one level above its own buy. The average cost of everything bought so far never enters the decision. 3/3