Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis

U.S. spot Bitcoin ETFs recorded about $635 million in net outflows as Bitcoin fell toward an estimated $81,500 average cost basis for ETF holdings. The level is being watched as a potential support point, though the estimate does not guarantee investors will defend it. Continued outflows and a sustained break below that cost basis could signal weakening demand and add pressure to BTC.