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Bitcoin holds key $80,000 support, but ETF inflows slow, with Friday's inflation data posing a test.
Bitcoin is currently holding in the $80,000 region, which Glassnode estimates to be the average acquisition cost for U.S. spot Bitcoin ETFs and publicly listed corporate treasuries, CryptoSlate reported. However, Bitcoin ETF inflows slowed by 95.6% in one day. Farside Investors data shows net inflows of $526.7 million on October 19 and $23.2 million on October 20, with both days being positive. Glassnode reported that the sell-off on October 15 briefly pushed Bitcoin below its ETF cost basis of approximately $81,500. This Friday, the final PMI and University of Michigan inflation expectations data will be released. These figures could influence market expectations for the Federal Reserve's October 28 interest rate decision, thereby testing the movement of assets including Bitcoin.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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