Bitcoin spot ETF investors are facing a stress test, with the market fluctuating near their entry price

The average entry price for U.S. Bitcoin spot ETF investors is currently around $86,000. As the market fluctuates near this entry price, ETF investors are facing a "belief" test: whether to take the risk of holding on or to take profits to avoid the possibility of turning gains into losses.

CryptoQuant analyst Moreno stated, "Historically, the entry price range serves as a psychological pivot. Prices above this level boost investor confidence and stabilize capital flow, while prices consistently below this range accelerate redemptions, as investors lose their profit buffer." Since last October, the holdings of U.S. Bitcoin spot ETFs have decreased by 8.4%, with cumulative inflows dropping from about $72.6 billion to approximately $66.5 billion. The performance of the ETF in the latter half of January was also disappointing, with net outflows on 6 out of 7 trading days, and only a mere $6.8 million net inflow on January 26.