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Bitcoin Slips Below $81,000 Late Friday as Ether Follows
Bitcoin broke $81,000 on Friday evening and traded near $80,780 at 11:54 p.m. ET, below the average price U.S. ETF holders paid.
Bitcoin gave up $81,000 on Friday evening and kept drifting. It traded near $80,780 at 11:54 p.m. ET, down 1.4% over 24 hours, per CoinGecko.
The floor held all day. Then it didn't.
During Friday's U.S. session, bitcoin stayed between $81,000 and about $81,940 on Kraken, according to CryptoWatchDesk. The break came between 6:35 and 6:50 p.m. ET, when Binance quotes fell from $81,156 to $80,911, EconoTimes reported.
ETF buyers are now underwater
Glassnode data cited by CoinDesk puts the average cost basis of U.S. spot bitcoin ETF holders near $82,313. At Friday night's price, the typical fund buyer sits roughly 1.9% below what they paid. Those funds saw net outflows on both Thursday and Friday.
The rest of the market moved with it. At 11:54 p.m. ET, CoinGecko showed:
- Ether near $2,378, down 1.4%
- Solana near $102.44, down 1.8%
- XRP near $1.29, down 2.5%
The next marker is Thursday's low
Thursday's low on Kraken was about $80,814, per CryptoWatchDesk. Bitcoin was trading just under that level late Friday.
Our read: no panic, just a slow leak. The Fed decides on rates Oct. 28.
Sources: CoinGecko · EconoTimes · CryptoWatchDesk · CoinDesk
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