Bitfinex Says Bitcoin Needs $84,400 to Revive ETF Demand

TL;DR Bitfinex says Bitcoin needs to reclaim $84,400, near the estimated $84,358 average ETF cost basis, before institutional fund demand is likely to strengthen meaningfully. U.S. spot Bitcoin ETFs recorded $228.4 million in weekly net outflows, leaving the average ETF cohort about 2.6% underwater at current prices. Bitfinex sees $81,300 as the weekly range center, while leveraged positioning, weak apparent demand and a break below $79,821 would further increase downside risk. Bitfinex says Bitcoin needs to reclaim $84,400 before spot ETF demand is likely to become a meaningful market tailwind again. In its latest Bitfinex Alpha report , analysts estimated the average ETF cohort cost basis at $84,358, leaving investors about 2.6% underwater after two consecutive weeks of outflows totaling $228.4 million.

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