preferred on
Points of Focus
- Bitcoin traded at $77,447.55 as spot ETF outflows fell to $24.2 million.
- ETF outflows dropped 91.8% from $295.9 million but stayed negative for a third day.
- BTC reclaimed Glassnode’s $76,700 True Market Mean, with resistance near $79,800.
Bitcoin (BTC) reclaimed $77,000 on Friday, trading at $77,447.55 as US spot Bitcoin exchange-traded fund (ETF) outflows fell to $24.2 million, down 91.8% from the previous session.
The move followed the Fed’s 25-basis-point rate hike on Sept. 16, with BTC recovering even as ETF flows remained negative.
Bitcoin ETF outflows shrink after $746-million two-day exit
The $24.2-million outflow sharply slowed the pace of redemptions but didn’t end the three-session outflow streak. Spot Bitcoin ETFs lost $450.4 million on Sept. 15 and another $295.9 million on Sept. 16, taking two-day outflows to $746.3 million before Thursday’s smaller loss.
Fidelity’s FBTC accounted for $16.6 million of the Sept. 17 outflow, while VanEck’s HODL lost $7.6 million. Farside’s table showed no positive flows among funds with reported activity, leaving the latest session as an easing in ETF selling rather than a return to net buying.
Bitcoin reclaims $76,700 cost basis but faces $79,800 resistance
Bitcoin also moved back above Glassnode’s $76,700 True Market Mean, the average price paid by investors who remain active onchain. Glassnode said on Sept. 16 that a sustained loss of this level would expose thinner support below, with its short-term holder cost basis near $71,300.
CryptoQuant contributor Darkfost placed Bitcoin inside a $71,300-$79,800 cost-basis range on Sept. 17. He identified $71,300 as the active-supply cost basis and $79,800 as resistance where some underwater positions have previously exited near breakeven. At $77,447.55, Bitcoin sits 3% below that upper level.
➤ On the other hand, when we shift approach and look at the cost basis of invested capital, we find a resistance level that BTC has so far failed to break through. At $79 800, Bitcoin continues to get rejected.
This is explained by the fact that this level marks the point at… pic.twitter.com/SevoowhXVO
— Darkfost (@Darkfost_Coc) September 17, 2026
Bitcoin short-term holder profit buffer narrows
CryptoQuant analyst Axel Adler Jr. reported on Sept. 17 that BTC was trading near $76,200, about 7% above the $71,300 average cost basis for short-term holders. He said that buffer had narrowed from 10% over the prior week, while the cohort’s exchange inflow profit-and-loss metric fell about 96% between Sept. 10 and Sept. 17.
The reading keeps a counterpoint in view despite the sharp slowdown in ETF outflows. Bitcoin has since moved back above $77,000, but both Glassnode and Adler still place the short-term holder cost basis near $71,300.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency prices are highly volatile. Always conduct your own research before making investment decisions.
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