Bitcoin Approaches Breakeven for ETF Investors Amid Price Rally
- Bitcoin’s average entry price for US spot BTC exchange-traded fund (ETF) investors is nearing $79,900.
- Daily inflows into Bitcoin ETFs peaked at over 3,300 BTC on March 2, leading to a total of approximately 1,291,618 BTC held.
- The seven-day average of ETF flows has shifted from persistent outflows to steady inflows since mid-February.
- A move above the key 100-day exponential moving average (EMA) could indicate a long-term uptrend for Bitcoin prices.
- The spent-output profit ratio (SOPR) metric indicates that short-term holders are selling coins at a profit again.
Recent data shows that Bitcoin is on track to test the $80,000 level as buying activity increases among both retail and institutional investors. The shift in order flow suggests a growing accumulation phase after significant selling pressure in February.
With Bitcoin’s price rallying above $70,000 and nearing the breakeven point for ETF investors, the market dynamics appear favorable for continued upside momentum. (Source)
