Bitcoin Tops $86K as ETF Buyers Profit
Bitcoin has moved above $86,000 for the first time since January, putting the average U.S. spot Bitcoin ETF buyer back into unrealized profit. Recent market data places the estimated average ETF cost basis at around $81,722, meaning BTC is now trading above the level at which the average holder entered the market. Bitcoin also closed above its 50-week moving average for the first time in 45 weeks, adding another important technical signal to the recovery. However, the move still needs confirmation: Glassnode has highlighted a sustained close above $86,000 as an important condition for validating the breakout. For exchange users, a move through major price levels can bring rapid changes in BTC rates and liquidity. Check the latest Bitcoin price and exchange conditions on xbit.money before making a transaction.