Bitcoin fell 3.3% over 24 hours to $80,979 following a US inflation report that showed annual inflation at 3.7% and core inflation at 2.6% for September. This decline pushed the price below the average cost basis for US spot ETFs, which stands at approximately $81,500. On the same day, these funds recorded $261.5 million in net outflows.
Prior to the report, whale holdings outside of exchanges and mining pools reached 3.03 million BTC, marking the highest level since November 2025. Market-wide demand for spot and futures combined is estimated at 69,000 BTC over 30 days. Meanwhile, leveraged traders faced significant liquidations totaling nearly $1 billion, with 91.6% of these being long positions.
Market participants are currently monitoring the $80,000 level, where the largest bid block on the Binance spot order book is located and where the 365-day moving average resides. Analysts note that a drop below this point could trigger further selling from leveraged long positions, while a recovery above $88,000 would require sustained ETF inflows to absorb existing supply.
