Bitcoin has fallen below the US spot ETF holding cost, and a "stress test" may arrive tonight.

BlockBeats2026/02/02 09:50

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BlockBeats News, February 2, according to glassnode analyst Chris Beamish, Bitcoin has now fallen below the average cost basis of US spot ETF holders (approximately $84,000), resulting in unrealized net losses for ETF buyers.

Chris Beamish stated that this is the first real stress test for US spot ETF holders. After the US stock market opens, investors will have to choose whether to buy in or panic sell, and tonight may usher in a "stress test."

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