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Bitcoin slips through $86,000 ETF cost basis as crypto turns lower

Total crypto market value fell 2.3% to $2.96 trillion, and perpetual funding at OKX turned negative on both bitcoin and ether swaps.

Reported · Written up by our desk · Market Structure

Bitcoin slid below the $86,000 ETF cost basis as the broader crypto market moved lower, according to The Defiant.

Total crypto market value fell 2.27% to $2.96 trillion, with several tokens also retreating, including XRP down 5.8%, Dogecoin down 8.3%, and Hedera down 9.9%.

Uniswap gave back its Tuesday spike after its CME listing, and perpetual funding at OKX turned negative on both bitcoin and ether swaps.

The Defiant also noted that the decline in crypto coincided with a drop in U.S. equities and gold, which closed lower alongside the digital asset market.

Latest closeGold $4,323.20 ▼1.2%|Bitcoin $84,236.73 ▼2.2%|XRP $1.494 ▼5.0%

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