Bitcoin (BTC) traded at around $81,238 on October 28, falling below the estimated average cost basis of $81,500 for ETF holders. Most investors who bought BTC in the past two years paid above $87,000, a level that has capped recent rallies and triggered corrections of at least 25%. If BTC continues below $81,500, many ETF holders face unrealized losses, which could weaken market support. Additionally, broader market pressures, including struggles in AI-related stocks and concerns over AI valuations and debt risks, are weighing on Bitcoin. The market has yet to show signs of a new bull run, with future performance tied to macroeconomic conditions and sustained buying demand.
Bitcoin (BTC) buyers' cost bases above $87,000 capped two recent rebounds. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Oct 29, 2026 05:51 WIB: 42 of 50 priced major cryptocurrencies rose today. Filecoin (FIL) increased 2.85% to Rp16.737, Basic Attention Token (BAT) fell 2.78% to Rp2.593, and Decentraland (MANA) rose 2.75% to Rp1.458.
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