Glassnode says U.S. spot BTC ETFs near breakeven again

Unrealized losses on U.S. spot Bitcoin ETFs swelled to about $18 billion in February before narrowing sharply, bringing them close to breakeven again, according to a Glassnode analysis. The chart showed current unrealized losses at about $4 billion to $5 billion, while BTC rebounded to around $80,000 from roughly $60,000 at the time. Glassnode said the average cost basis of ETF investors is acting as resistance, and added that the price needs to break above that range for further gains.