Bitcoin Holds Above $81.5K Despite ETF Outflows

Bitcoin Defends Key Price Level

Bitcoin (BTC) has shown resilience, twice halting declines around $81,500. This price point is significant as it approximates the cost basis for investors in U.S. spot Bitcoin ETFs. The defense of this level comes despite substantial outflows from those same ETFs. Last week saw net outflows of $681 million, and Monday added another $65 million to that total.

Data from Glassnode indicates a potential drop to $77,500 if Bitcoin were to fall below the ETF cost basis. This suggests that $81,500 is acting as a crucial support level. The current price action is being closely watched by analysts, as it tests whether the introduction of spot ETFs has fundamentally altered Bitcoin’s market dynamics.

The sustained interest from institutional investors via ETFs is being weighed against short-term profit-taking and broader market corrections. Whether this new ownership structure will provide more consistent price support remains a key question for the market. The ability of Bitcoin to hold above $81,500, even with outflows, is being interpreted as a positive sign by some observers.

Source: Bitcoin.com News