Bitcoin ETF Investors Face Losses as Price Drops Below Key Cost Basis

Bitcoin prices dropped below the crucial $89,600 threshold last week, resulting in losses for U.S. spot Bitcoin ETF investors. Data from Glassnode’s Sean Rose reveals that the average ETF investor cost basis currently sits around $89,600, a level Bitcoin breached on Tuesday. This decline has pushed these investors into unrealized losses as they hold their investments at a price lower than the initial purchase point.