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Bitcoin · 1 min read

Bitcoin Drops 3.7% to Test Glassnode's $81,500 ETF Holding Cost Basis

The level previously served as support throughout October after halting bitcoin's market rally in May.

Editorial oversight: Julian Mercer, Chief Editor
Bearish
$BTC $81,256 −4.0%

At a glance

What happened
Bitcoin fell 3.7% to test an estimated $81,500 ETF holding cost calculated by Glassnode as of Oct. 19.
Why it matters
The $81,500 level acted as resistance against bitcoin's May rally before serving as support during October.
Who is affected
Investors and market participants tracking Bitcoin ETF on-chain holding cost thresholds.
What's next
No next step announced.
Primary source
thedefiant.io: Bitcoin Falls 3.7% to Test $81,500 ETF Cost Basis

Key points

  • Bitcoin fell 3.7% to test the $81,500 ETF cost basis calculated by Glassnode 1.
  • The $81,500 level provided market support in October after capping a bitcoin rally in May 1.
  • Glassnode's estimated ETF holding cost calculation was dated Oct. 19 1.

$BTC dropped 3.7% to challenge an estimated exchange-traded fund cost basis level of $81,500 1. According to on-chain analytics firm Glassnode, that specific ETF holding cost figure was calculated on Oct. 19 1. At the time of writing, Bitcoin was trading at $81,313, reflecting a 3.6% decrease over the prior 24-hour period as the broader digital asset market capitalization stood at $2.69 trillion.

The $81,500 threshold has served as a technical pivot point across multiple trading cycles 1. Glassnode's metrics show the holding cost capped bitcoin's price rally during May 1. Subsequently, the exact price marker transitioned into a support zone during October trading activity 1. The move follows related institutional volatility where Bitcoin dipped to $81,400 as tech shares slid, testing market participants after Bitcoin retreated from a run near $85,000.

On-Chain ETF Metrics Under Scrutiny

Glassnode's published figures focus on Bitcoin ETF on-chain metrics, recording the historical acquisition thresholds associated with funds 1. The Oct. 19 holding cost computation marks the boundary where recent October price action found buyers after reversing the May expansion 1.

No subsequent update to the Oct. 19 holding cost figure was released in the published data 1. Observers remain focused on whether price action maintains stability around the $81,500 benchmark that previously formed October's technical floor 1.

Sources

  1. [1] Bitcoin Falls 3.7% to Test $81,500 ETF Cost Basis — thedefiant.io, October 22, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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