Bitcoin · Bloomberg · New York · Bitcoin Magazine
Bitcoin ETF Holders Back in the Black as Price Barrels Towards $87,000
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Bitcoin exchange-traded fund holders are now in profit for the first time since January.
Key facts
- Posted on X on Monday, Bloomberg ETF analyst James Seyffart wrote that the rally on Monday morning in New York posted the average investor above the estimated ETF cost basis of $81,72 for the first
- Bitcoin shot above $86,000 despite key crypto legislation, the Clarity Act, getting blocked last week and the Federal Reserve raising interest rates
- The coin’s price now sits over 30% below the all-time high it hit last year of $126,080
- U.S. Bitcoin ETFs, managed by the likes of BlackRock, Fidelity, Grayscale, and Morgan Stanley, last week received net positive flows of over $6 million
Summary
Bitcoin exchange-traded fund holders are back in profit after the cryptocurrency’s latest surge. Posted on X on Monday, Bloomberg ETF analyst James Seyffart wrote that the rally on Monday morning in New York posted the average investor above the estimated ETF cost basis of $81,72 for the first time since January. Bitcoin shot above $86,000 despite key crypto legislation, the Clarity Act, getting blocked last week and the Federal Reserve raising interest rates. The coin’s price now sits over 30% below the all-time high it hit last year of $126,080.