Bitcoin’s $80,000 floor faces Friday inflation test as ETF inflows lose momentum
BTC when published $82,136Now $80,595 ▼ −1.88% since it was published
Bitcoin holds the $80,000 area, where Glassnode places the estimated average acquisition costs of US spot Bitcoin ETFs and publicly traded corporate treasuries, while ETF inflows slowed by 95.6% in a day. Farside Investors recorded $526.7 million in net inflows on Oct. 19 and $23.2 million on Oct. 20, with both sessions positive. A $26 billion five-year TIPS auction on Thursday, then flash PMIs and final University of Michigan inflation expectations on Friday, arrive before the Fed's Oct. 28 decision. Glassnode's Oct. 21 report shows the Oct. 15 selloff closing hourly near $80,100, briefly below its estimated ETF cost basis of about $81,500. Corporate treasuries in its coverage hold coins at an average cost near $80,200.
First reported by CryptoSlate. This page is a short excerpt; the full text is theirs.
