Bitcoin: American Inflation Threatens the 80,000 $ Threshold

Bitcoin approaches a decisive threshold as markets await new American inflation indicators. After several positive sessions, capital inflows into spot ETFs have sharply slowed, reducing support for prices. On Friday, PMI indices and household inflation forecasts could change investor expectations before the next Federal Reserve meeting. Maintaining the 80,000 dollar level will therefore also depend on these economic signals. In Brief Bitcoin defends the 80,000 dollars ahead of new American inflation data. Net inflows into Bitcoin ETFs drop 95.6% between October 19 and 20. Glassnode estimates the average cost basis of spot ETFs around 81,500 dollars. The 85,000 to 87,500 dollar zone concentrates significant potential selling pressure. Inflation figures and the Fed decision could determine the next market direction. Bitcoin Defends 80,000 Dollars Against Institutional Acquisition Costs The price of bitcoin moves around 80,000 dollars, a level that draws institutional investors’ attention. According to the Glassnode report published on October 21, this threshold approaches the average acquisition costs of several holder categories. American spot ETFs display an estimated cost basis of 81,500 dollars. Meanwhile, treasuries of companies followed by Glassnode hold their digital assets at an average cost close to 80,200 dollars. The massive sell-off on October 15 brought the market near this reference zone. The price closed around 80,100 dollars after briefly falling below the ETFs’ estimated cost basis. This movement tested buyers’ ability to defend their positions. However, the market recovered to a level close to institutional acquisition costs, without confirming a lasting recovery. Binance’s order book data provide another perspective on this battle. The main cluster of spot buy orders was concentrated around 80,000 dollars before the sharp drop. Selling pressure absorbed much of it, but new orders appeared on October 20. Their volume remains lower than before the drop, which limits the scope of this support. It is also necessary to distinguish acquisition costs from orders displayed on platforms. An ETF’s cost basis corresponds to the average cost of its assets, while a company’s reflects its past purchases. However, orders in an order book can disappear at any moment. Maintaining the price above 80,000 dollars does not guarantee that buyers will sustainably defend this zone. Start your crypto adventure safely with KrakenThis link uses an affiliate program. Bitcoin ETF Flows Slow Before Inflation Data Capital inflows into American spot ETFs have sharply lost momentum. According to Farside Investors data, these products recorded 526.7 million dollars in net inflows on October 19. On the following day, inflows remained positive but dropped to only 23.2 million dollars. This decrease represents a 95.6% decline in one session and highlights the recent demand slowdown. Over these two days, ETFs still attracted 549.9 million dollars in total. Thus, it is not an entirely negative trend, as both sessions recorded net inflows.