The $11,000 Deficit: Why the Record $8.9B Bitcoin ETF Drawdown Is Paralyzing Wall Street’s BTC Appetite

Bitcoin ETFs experienced a record $8.9 billion drawdown with average holders sitting at an $11,000 loss based on a $79,000 cost basis, while Bitcoin recently reclaimed $70,000. BlackRock's IBIT alone saw 42,000 BTC withdrawn during the correction, though outflows are showing signs of stabilization.