Bitcoin don fall under US spot ETF cost basis after $2.8B ETF outflows

Bitcoin (BTC) don fall below di average cost basis for US spot Bitcoin ETFs after about $2.8 billion total ETF outflows for di past two weeks. Di 11 US spot BTC ETFs get about 1.28 million BTC (~$113 billion AUM), weh mean di average ETF cost basis dey near $87,830 — about 11% higher pass di current spot. CoinGlass data show $1.32 billion outflows di week before and $1.49 billion last week. BTC drop from roughly $84,000 to an intra‑week low near $74,600 (≈11% decline) and briefly trade below MicroStrategy’s reported cost basis of $76,037 for di first time since October 2023. Technical indicators dey signal short‑term downside pressure: RSI don oversold (≈29), di 20‑day EMA dey near $86k, and Supertrend bearish. Key support dey around $74,604 with immediate resistance near $79,396. Analysts like Alex Thorn (Galaxy Research) talk seh ETF positions dey “underwater,” while Nick Ruck (LVRG Research) warn seh if demand remain weak and macro uncertainty continue, losses fit extend and risk go turn to bigger bear phase if institutional buying no return. Implications for traders: more selling pressure from ETFs and other holders, higher short‑term volatility, and higher risk of further downside if $74k break. Long‑term outcome go depend on whether ETF inflows resume and whether institutional holders defend their cost bases; cumulative ETF inflows so far still big but now dey lag spot price action.