Bitcoin Spot Price Struggles Amid $80,000 Resistance
U.S. spot Bitcoin exchange-traded funds (ETFs) have seen eight consecutive days of net inflows, with billions of dollars pouring in from institutional investors. Compliant channels, such as BlackRock's IBIT and Fidelity's FBTC, have led the charge, demonstrating strong subscription demand.
However, despite this robust capital influx, Bitcoin's spot price has struggled to break above $80,000, with dense selling pressure at play. According to Bloomberg's market liquidity tracking, the divergence between ETF inflows and spot price action has triggered deep two-sided positioning in the secondary market.
The $80,000 level is a significant psychological barrier for Bitcoin, with prices repeatedly rallying and reversing when testing this zone. Basis arbitrage trading has also diluted one-sided upward momentum, as hedge funds execute risk-free spreads by buying ETF shares while shorting futures contracts.