Is Bitcoin Going Down To $75,000? Why Saylor’s Cost Basis Is The Level To Watch

Bitcoin’s two biggest buyers both stepped back last week. US spot Bitcoin ETFs recorded their largest weekly outflow in almost four months, and Michael Saylor’s Strategy made its smallest Bitcoin purchase of the year. Yet Bitcoin has held above $80,000 for a full week. One analyst dug into the data to find out who is still buying. Bitcoin was rejected at resistance on Monday after reaching $84,352, then slid to around $81,000 overnight. It has since bounced back above $83,000. Last week’s low, on October 8, was $80,393. Bitcoin is down about 4% from where it started the week.