Bitcoin Falls Below $80K as Spot ETF Inflows Top $1B
Bitcoin fell to $79,800 after rejection at a resistance level, while weekly spot Bitcoin ETF inflows reached $1.05 billion, the largest weekly inflow since January.
Bitcoin dropped below $80,000 to $79,800 on Thursday after encountering resistance at a dynamic trend level. The decline coincided with weekly spot Bitcoin ETF inflows of $1.05 billion, the largest weekly total since January.
Technical indicators showed weakening short-term momentum. Bearish divergences appeared in the relative strength index on the one-hour and four-hour charts, where price made higher highs while the RSI trended lower. Market participants said a hold above the weekly open at $78,500 could stabilize near-term price action; failure to defend that level could lead to a deeper retracement.
Key technical support is between $76,000 and $78,000, where a daily fair value gap aligns with Bitcoin’s 200-day exponential moving average. A fair value gap is an area left by a rapid price move with limited trading, and traders often watch such gaps as potential liquidity zones on pullbacks. If selling continues, Bitcoin could retest that zone before attempting to reclaim the recent high near $82,800.
Crypto trader Jelle wrote that the ‘200-day MA/EMA cluster’ was acting as resistance and identified $78,000 as the first major support area. Trader Killa XBT flagged a deeper support band between $76,300 and $74,700 and highlighted the weekly open near $78,500 as the immediate level bulls were defending.
Fund flow trackers recorded the $1.05 billion in spot ETF net inflows for the week. A positive close on Friday would confirm the largest weekly ETF inflow since January. A separate crypto risk monitor showed the Bitcoin Risk Index near zero while ETF net flows moved positive by roughly 3,000 BTC. The monitor noted that when the risk gauge rose slightly last week, ETF outflows appeared briefly before inflows returned.
Background: the 200-day moving average is a common indicator of medium-term trend. Relative strength index divergences on short timeframes indicate weakening momentum during rallies and can precede corrections but do not by themselves set the longer-term trend. Analysts and traders will watch the interaction of ETF flows and the key support range over the coming sessions to see whether buying absorbs selling and whether price moves back above recent highs.
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