Bitcoin Trades Below ETF Cost-Basis Amid MVRV Pressure
- Bitcoin’s price has fallen below the average realized price of Bitcoin ETFs, which is approximately $80,000.
- The ETF MVRV index has slipped under the critical mark of one, indicating increased stress for investors.
- As of now, Bitcoin is trading at $68,000 with a daily growth of 1.58% according to CoinMarketCap data.
- February has seen a net outflow of $1.08 billion from Bitcoin ETFs following a $1.61 billion withdrawal in January.
The decline in Bitcoin’s price below the ETF cost-basis and an MVRV index below one suggests heightened market stress and potential sell-pressure among investors seeking to mitigate losses. This scenario presents significant resistance to any short-term recovery attempts.
With Bitcoin trading at $68,000 and continued net outflows from ETFs, the market faces challenges as investor pressure mounts due to unrealized losses. Source
