Bitcoin Price Rally To $79K Would Make Spot ETF Holders Whole Again
A Bitcoin rally toward $79K would bring US spot ETF investors close to their breakeven point, coinciding with renewed buying interest.Summary
Bitcoin's sustained rally above $70,000 is bringing the average entry price for US spot Bitcoin ETF investors, around $79,900, into focus, potentially making them whole. On-chain data supports this, showing ETF flows have turned positive after mid-February outflows, with holdings increasing significantly. A decisive move above this cost basis would also mean reclaiming the 100-day Exponential Moving Average (EMA), signaling a shift into a long-term uptrend. Furthermore, exchange data indicates a shift toward accumulation, as the 30-day volume delta on major exchanges has turned positive, and Bitcoin's cumulative volume delta shows aggressive buying since the price was near $63,000. The Spent-Output Profit Ratio (SOPR) metric moving above 1 suggests that recent selling pressure has eased, indicating that short-term holders are now selling at or above cost, which supports the expectation that Bitcoin is on track to test the $80,000 level.
(Source：Cointelegraph)