Bitcoin appears in mid-cycle reset as ETF selling eases around $86,000 cost basis

Beincrypto says Bitcoin looks locked in a mid-cycle reset after on-chain and ETF indicators showed selling pressure fading while price held near the ETFs' average cost basis close to $86,000.

The report notes US spot Bitcoin ETFs saw heavy flows: inflows on January 2 and January 5 brought more than $1.1 billion combined, then over the next three sessions more than $1.1 billion left the funds. The ETF drawdown puts the bulk of those investors near break-even at roughly $86,000, and Bitcoin has stabilized around $88,000–$92,000. Blockchain data also showed BlackRock moved 3,743 BTC and 7,204 ETH into Coinbase Prime to settle redemptions, the Coinbase Premium Index turned sharply negative on January 12, and 30‑day exchange netflows reached their highest level since October.

All five data points point to an ETF-driven shakeout that flushed late buyers while stronger holders absorbed supply. As long as Bitcoin holds above the $86,000 ETF cost basis the structure is described as constructive, with consolidation and a possible move toward $95,000; a renewed wave of ETF redemptions would be required for a deeper selloff, and the data indicates that selling phase is already fading.

Key Topics

Crypto, Bitcoin, Spot Bitcoin Etfs, Blackrock, Coinbase Prime, Coinbase Premium