Glassnode: Bitcoin has fallen below the holding cost of the US spot ETF, and may face a "stress test" tonight

According to glassnode analyst Chris Beamish, Bitcoin has now fallen below the average cost basis of U.S. spot ETF holders (around $84,000), leading to unrealized net losses for ETF buyers. Chris Beamish stated that this is the first real stress test for U.S. spot ETF holders.

After the U.S. stock market opens, investors will choose to buy or panic sell, and tonight may bring a "stress test."