Bitcoin price $80,913: why ETF buyers are still in the red

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Bitcoin trades at $80,913 on Wednesday morning, just below the average price at which the US spot ETFs bought their holdings. What this line at $81,500 means, and which levels count before the evening rate decision.On the record: Bitcoin trades at $80,913 on Wednesday morning, and the US spot ETFs bought their holdings at an average of roughly $81,500. The price therefore sits just below the entry level of the largest institutional buyer group in the market. Our own assessment follows further down: this line carries more weight on Wednesday than the evening interest rate decision, and the section setting out why closes this article. Bitcoin price on Wednesday morning: $80,913 after a quiet night The price stands at $80,913 on Wednesday morning, measured against CoinGecko market data. Over the past 24 hours Bitcoin has gained 1.72 percent. The overnight range was narrow: the low was $79,416, the high $81,159. Less than $1,750 separates the two, a little over 2 percent. Over the w...