Bitcoin ETF Buyers Face First Test With $79K Price Threshold

The cryptocurrency market has experienced significant bearish pressure, with Bitcoin's price dropping below the year's opening level. Other large-cap assets have also faced double-digit losses recently.

Discussions about a shift in Bitcoin's market structure and the impact of spot ETFs continue, but recent data suggests BTC ETF investors may face challenges soon.
The Bitcoin US ETF Realized Price, indicating the average purchase price for BTC held by US-based ETFs, is crucial for understanding institutional investor profitability. Currently, it's approximately $79,300.
IT Tech notes that most ETF inflows come from retail investors using brokerage accounts, challenging the notion of predominantly "Institutional Money."
ETF buyers might panic if the BTC price falls below their cost basis, as these investors are not used to such declines. The next significant support level is around $82,000.

Currently, BTC is priced at approximately $84,500, marking a 2% drop in 24 hours and an 11% decline over the past week.