Bitcoin faces technical pressure after breaking its True Market Mean, as fading ETF demand and stagnant stablecoin supply suggest a potential test of the $71,300 short-term holder cost basis.
Bitcoin broke below the True Market Mean with two consecutive daily closes, while ETF outflows and flat stablecoin supply suggest weakening capital inflows, despite some analysts seeing a likely bottom.
Ethereum products saw combined outflows with Bitcoin funds, totaling $592 million in single-day ETF outflows, indicating fading demand for ETH-linked assets.
Bitcoin has breached its critical True Market Mean of $76,700 following two consecutive daily closes below the threshold. The decline coincides with a record $592 million in combined daily outflows from spot Bitcoin and Ethereum ETFs, signaling a sharp contraction in institutional demand and a stall in stablecoin liquidity.
The True Market Mean represents the average price paid by active market participants and has acted as a support floor for Bitcoin since late August.
Analysts point to the Short-Term Holder Cost Basis at approximately $71,300 as the next significant support level if the current breakdown continues.