Bitcoin Reclaims $70,000 as $8.9B Spot ETF Drawdown Leaves Investors Facing an $11,000 Cost Gap
Bitcoin has climbed back above $70,000 after weeks of volatile trading, easing some selling pressure while overall liquidity and sentiment remain fragile. CryptoQuant data shows spot Bitcoin ETF holders sit below an estimated average cost near $79,000, implying unrealized losses despite the rebound. The recent correction triggered about $8.9 billion in ETF value drawdowns and more than 42,000 BTC outflows from BlackRock's IBIT, though outflows have recently slowed.