burakkesmeci
Why the $69K Spot ETF Realized Price Is Bitcoin’s Most Critical Support Level Right Now
If the recent downturn in traditional markets spills over to Bitcoin, which support level will I be watching closely? For me, the "Bitcoin Spot ETF Realized Price" is the most critical support to monitor. And the reason is simple: since Spot ETFs began trading, their average acquisition cost has consistently acted as a strong support zone. In fact, over the past 15 months, Bitcoin has tested this level multiple times—including during the carry trade crisis on August 5, 2024—but has never stayed below it for long. At the time of writing, this key level sits at $69K. As long as Bitcoin can hold above it, I don’t expect a deeper correction to unfold.