Bitcoin sees its second-best Q3 ever: BTC ETF investors back in profit after 8 months

U.S. Spot Bitcoin ETF investors are in relief after flipping profitable for the first time since January. On Monday, the crypto asset surged nearly 7% and tagged $87K. The move effectively reclaimed the average estimated BTC ETF cost basis of $82K.

This made the average US BTC investor flip positive again after being underwater for the past eight months. 

This investor group was now up about $3B in unrealized profit. This was a huge relief from the massive $22B in unrealized losses that they endured at the peak of the summer drawdown.

Interestingly, the ETF investors became diamond hands and remained resilient throughout their first Bitcoin winter. They retained over $55B in total inflows despite BTC’s 50% price decline.

Now the question is: will they hold steady, or will some take advantage of the break-even point and exit their position? 

Bitcoin ETFs attract $1B in fresh daily demand

Well, it seems the ETF OGs are ready to ride the potential next bull run as BTC winter comes to an end. This was based on limited insight from the Monday rally. The products attracted nearly $1B in net daily inflows ($998M), the highest daily demand since last October. 

In other words, the ETF investors may not be selling anytime soon.