Bitcoin Sinks Toward $80,000 After Hot CPI. Will Whales Keep What They Added?
A hotter-than-expected US inflation report knocked Bitcoin (BTC) down 3.3% in 24 hours to $80,979. The drop pushed the price under what US spot exchange-traded funds (ETFs) paid, on average, for their coins. Whales had spent the weeks before the report building their balances to levels not seen in nearly a year. With prices now The post Bitcoin Sinks Toward $80,000 After Hot CPI. Will Whales Keep…
A hotter-than-expected US CPI report sent Bitcoin down 3.3% in 24 hours to $80,979, pushing the price below the average cost basis of US spot Bitcoin ETFs. Whales had been accumulating to levels not seen in nearly a year in the weeks before the report, and traders now question whether that buying will hold. The move matters because a sustained break below ETF cost basis could pressure those funds and test whale conviction at a key support level.
