Bitcoin’s $80,000 floor faces Friday inflation test as ETF inflows lose momentum

Bitcoin holds the $80,000 area, where Glassnode places the estimated average acquisition costs of US spot Bitcoin ETFs and publicly traded corporate treasuries, while ETF inflows slowed by 95.6% in a day.

Farside Investors recorded $526.7 million in net inflows on Oct. 19 and $23.2 million on Oct. 20, with both sessions positive. A $26 billion five-year TIPS auction on Thursday, then flash PMIs and final University of Michigan inflation expectations on Friday, arrive before the Fed's Oct. 28 decision.

Glassnode's Oct. 21 report shows the Oct. 15 selloff closing hourly near $80,100, briefly below its estimated ETF cost basis of about $81,500. Corporate treasuries in its coverage hold coins at an average cost near $80,200.

The largest block of spot bids on Binance sat near $80,000, the selloff consumed most of it, and bids had reappeared by Oct. 20 at a smaller size.

An ETF cost basis averages a fund's holdings, a treasury's cost basis records what it paid and leaves future purchases to its own mandate, and displayed bids can be pulled.

Above $80,000, Glassnode finds overhead supply between $85,000 and $87,500, where coins bought six to 12 months ago average near $86,700 and modeled futures liquidations cluster between $85,000 and $87,000.

Below it, a liquidation cluster sits near $79,600, and the True Market Mean is near $77,600.

The Oct. 19 and 20 sessions brought in $549.9 million combined, so the slowdown describes new net money, and withdrawals sit elsewhere.