Bitcoin Reclaims $82,000 as Brent Crude Slips From a Five-Month High and Stock Futures Rise
By Unchained
AI summary of the source article
Bitcoin climbed past $82,000 to trade near $83,007 on Monday as Brent crude declined and U.S. stock futures rose. The price move positioned bitcoin back above the estimated $81,500 average purchase price of U.S. spot ETFs.
Why it matters
According to Glassnode's Frederik Theissen, "a return to steady ETF inflows would be the clearest sign that demand is back."
Key facts
- Bitcoin traded near $83,007 as of 09:38 UTC on Monday, up about 1.1% over 24 hours.
- Glassnode estimated the average price U.S. spot ETFs paid for their coins at about $81,500.
- U.S. spot bitcoin ETFs shed $681 million in the week ended Oct. 9 and $228.6 million in the week ended Oct. 16.
Source excerpt · Unchained
The bounce follows a week of hot U.S. inflation data and $228.6 million in spot bitcoin ETF outflows. The post Bitcoin Reclaims $82,000 as Brent Crude Slips From a Five-Month High and Stock Futures Rise appeared first on Unchained .