ZTrader Macro & AI Notes

ZTrader Macro & AI Notes

Bitcoin On-Chain Analysis: The $80K Cost Basis Every ETF Holder Is Watching

Bitcoin is pinned between institutional cost basis near $80K and long-term holder supply at $85K.

Dorian's avatar
Dorian
Oct 31, 2026

By Dorian

Price tells you where Bitcoin trades; the blockchain reveals who is losing money. At $80,000, those two answers converge on the exact same spot.

Following the Fed decision, Bitcoin wobbled near $81,000—trading roughly a third below its October 2025 peak of ~$126,000.

The Federal Reserve held benchmark rates at 3.75%–4.00% in a 10–2 split. Crucia…

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