Bitcoin Price Drop Puts Average ETF Holder Back in Losses

The average Bitcoin ETF holder is at risk of returning to losses if the cryptocurrency experiences a 2.2% decline from its current price, estimated by Bloomberg's James Seyffart to be around $81,722.

This target was reached when Bitcoin traded at $83,579 on September 29, just before rebounding above $83,000.

Analyst Axel Adler Jr.'s calculated 365-day moving average stands below this estimate at $80,500.

On Wednesday, the US inflation data will be released, and a hotter reading could lift yields and push Bitcoin's price below Seyffart's estimated cost basis.