Bitcoin Drops Below $90,000 for the First Time Since April as ETF Investors Fall Into the Red
The post Bitcoin Drops Below $90,000 for the First Time Since April as ETF Investors Fall Into the Red appeared on BitcoinEthereumNews.com.
Bitcoin Bitcoin has broken below $90,000 for the first time in nearly seven months, marking a critical psychological and structural level that now places the entire U.S. spot Bitcoin ETF investor cohort at a collective unrealized loss. According to new data shared by Glassnode’s Sean Rose, the flow-weighted average cost basis across all U.S. spot Bitcoin ETFs sits at roughly $89,600, and Bitcoin’s slide beneath that line means ETF buyers, both retail and institutional, are now underwater. The shift comes after a sharp day of outflows. Based on the latest daily data, several major issuers recorded $254 million in outflows on 17th of November. This is the first coordinated wave of ETF losses since the products launched, and it is testing investor conviction more forcefully than at any time this year. The ETF wrapper was marketed as the regulated, low-friction way to access Bitcoin, but the current drawdown is a reminder that Wall Street infrastructure doesn’t eliminate Bitcoin’s extreme volatility. Price Action Turns Critical Bitcoin’s fall below $90,000 breaks a multi-month support zone that held firm since late April. Market structure now hinges on whether buyers can reclaim the $90.5K–$92K range, which previously acted as a high-liquidity demand pocket. Failure to rebound above that area raises the risk of a deeper slide toward mid-$80Ks, where a cluster of realized price bands and short-term holder support sits. Analysts warn that if funding rates stay negative and ETF flows continue trending red, the next leg lower could accelerate. ETF Investors Face Their First Real Test The average cost basis of $89,600 represents all Bitcoin purchased by ETFs since their launch, meaning this is the first moment the entire cohort has dipped underwater. Earlier drawdowns impacted shorter-term buyers, but long-term inflows kept the average above spot price. Now: • Retail buyers who piled…
Filed under: News - @ November 18, 2025 6:23 am