Bitcoin Price Defends $81.5K ETF Cost Basis Despite Rising Outflows

More strikingly, bitcoin has defended the level despite $681 million in net U.S. spot ETF outflows last week and another $65 million outflow on Monday. If support eventually breaks, then Glassnode points to the true market mean near $77,500 as the next major level.

ETF Cost Basis Becomes Bitcoin’s New Line in the Sand

The resilience around $81,500 is notable because ETF flows have recently been working against bitcoin rather than supporting it. Vugar Usi Zade, CEO of MEXC, argued that institutional capital has nevertheless created a stronger structural floor.

“Bitcoin is moving into a phase of institutional maturity, where the $80,000 mark has become the average cost for positions held by spot ETFs and custodial services,” he said.

If major funds accumulated heavily around this zone, then declines toward $80,000 may increasingly attract buyers rather than trigger panic.

Bitcoin Is Also Outrunning Broader Liquidity

Institutional positioning is not the only constructive signal.

Bitcoin Magazine analysis comparing $BTC with Federal Reserve net liquidity noted that bitcoin has recently outperformed the broader liquidity backdrop, even while maintaining a meaningful longer-term relationship with it. That is important because bitcoin has historically been highly sensitive to liquidity conditions.