Bitcoin Dips Below $79K Amid Strong Institutional Demand
Bitcoin's price dipped below $79,000 after testing resistance above $81,000, leaving traders to debate whether this signals a sustained crypto recovery or a short-term pullback.
Institutional demand remains strong, with US spot Bitcoin ETFs seeing inflows of $337.56 million alongside significant inflows into Ether, Solana, and XRP funds.
Stablecoin supplies like Tether's USDT and Circle's USDC also increased, adding liquidity to the market.
The 365-day moving average near $83,000 and the 50-week moving average around $81,087 are key technical levels to watch for a lasting bullish trend.