Bitcoin Falls Below True Market Mean Amid Weakened Demand
Bitcoin has fallen below its True Market Mean, an on-chain cost-basis level tracked by Glassnode. The price slipped to around $75,900, about 1% below the average acquisition price of coins held by active investors.
The decline came as investors monitored weaker capital inflows, ETF outflows, corporate accumulation, and changing expectations around U.S. monetary policy. On-chain capital inflows stopped after 27 consecutive days, with September 15 marking the first net outflow in four weeks.
U.S. spot Bitcoin ETFs recorded about $334 million in outflows between September 8 and 14, while BTC and ETH products lost roughly $592 million on September 15. The slowdown in corporate purchases means this investor group is currently contributing less additional Bitcoin demand than during earlier accumulation periods.