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Bitcoin Slips Below $86,000 ETF Cost Basis as Markets Decline
The total crypto market value fell 2.27% to $2.96 trillion as major tokens, U.S. equities and gold moved lower.
Mentioned assets
Bitcoin (BTC) slipped below the $86,000 cost basis for exchange-traded fund holders on Sept. 23 as crypto prices fell alongside U.S. equities and gold.
The total crypto market value declined 2.27% to $2.96 trillion. XRP dropped 5.8%, Dogecoin fell 8.3% and Hedera lost 9.9%.
Perpetual funding on OKX turned negative for both bitcoin and Ether (ETH) swaps, indicating that short positions were paying to remain open. Uniswap also gave back the entire spike it recorded after Tuesday’s CME listing.
The decline came during a broader session of weakness across crypto, stocks and gold.
