Bitcoin Trapped Below $80,000 Despite Record ETF Inflows

Bitcoin's price continues to trade below $80,000 despite strong inflows into US spot Bitcoin ETFs. Last week, ETFs attracted $986.9 million in new capital, bringing the total over three weeks to about $3.8 billion.

BlackRock's IBIT accounted for $691.5 million of those inflows, but the price movement was short-lived as it briefly moved above $81,000 before dropping below $79,000.

Zeus Research analyst Dominick John notes that sustained ETF inflows show institutions are rebuilding exposure to Bitcoin, creating 'genuine spot demand' rather than relying on leverage-driven speculation.

However, analysts warn that strong inflows do not guarantee a corresponding price move. The data shows about 600,000 more BTC sitting in profit at current levels than when the cryptocurrency traded similarly in May.