Bitcoin Stuck Below $80K as Strong Demand Meets Hawkish Fed Outlook
Bitcoin's recent price action has been stagnant, trading between $78,000 and $80,000 over the past few days. Despite strong institutional demand, with US spot Bitcoin Exchange-Traded Funds (ETFs) recording $1.13 billion in net inflows from Monday to Thursday, the cryptocurrency is still below its 365-day moving average near $83,000.
This level is considered crucial for confirming a broader shift into a new bull-market phase. Institutional demand has been one of the major forces behind Bitcoin's latest advance, with spot and futures demand expanding simultaneously for the first time since early October 2025.
The sustained capital entering spot ETFs suggests that institutional investors are rebuilding exposure to Bitcoin, which could provide additional support for BTC as it attempts to overcome resistance above $80,000. However, a hawkish message from Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium on Friday could weigh on BTC and the wider crypto market.
The 4-hour chart remains bearish and efficient despite the recent stale price action. If Bitcoin fails to break above its moving-average resistance and begins a deeper correction, the price could retreat toward the key psychological support at $70,000 or lower demand zones at the 50-day and 100-day EMAs.