Bitcoin’s rapid pullback has pushed the average US spot Bitcoin exchange-traded fund (ETF) investor into the red for the first time since the products launched.
The flow-weighted cost basis across all US Bitcoin (BTC) ETFs sits near $89,600, a level Bitcoin fell below on Tuesday, leaving the cohort underwater, Glassnode analyst Sean Rose told Bloomberg on Tuesday. Some early buyers, particularly those who entered when Bitcoin was between $40,000 and $70,000, still remain in profit.
“Even…
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