Bitcoin Fails to Reclaim ETF Cost Basis
Bitcoin struggles below $81k ETF cost basis despite record inflows into BTC ETPs and massive MicroStrategy purchases last week.
SourceDespite one of the highest inflows into Bitcoin ETPs and record Bitcoin purchases by MicroStrategy ($MSTR) last week, BTC has failed to reclaim the ETF cost basis around $81k, signaling potential hesitation in the market as traders eye further developments in BTC price prediction and broader crypto market trends.
From a technical confluence standpoint, BTC trades at $74,705.45 within a bullish trend structure, holding above the EMA200 at $71,671.57 as firm long-term support, while the EMA50 at $74,407.27 acts as immediate resistance that price must conquer for upside momentum. The MACD shows a bearish death cross with a value of 7.97, clashing against neutral RSI at 46.4, and with price nestled inside Bollinger Bands—upper resistance at $77,856.51 capping gains and lower support at $73,669.15 offering a buffer—expect a test of that lower band if inflows don't translate to buying pressure, potentially setting up a rebound toward Bitcoin ETF inflows driven highs if volatility exhausts downward.
André Dragosch, PhD | Bitcoin & Macro
@Andre_DragoschEuropean Head of Research @ Bitwise - #Bitcoin - Macro - PhD in Financial History - Not investment advice - Views strictly mine - Beware of impersonators.