Bitcoin’s $84,000 Wall Gets Harder to Break as ETF Inflows Sink to $31 Million
The Bitcoin market is experiencing a significant slowdown in institutional demand, with US Bitcoin ETFs drawing just $31 million in inflows on Monday. This is a stark contrast to the $1 billion that entered the funds at the start of last week. As a result, the marginal institutional bid has declined sharply, leaving the cryptocurrency struggling to clear a major supply barrier around $84,000-$85,000. The concentration of long-term-holder coins in this price zone is increasing selling pressure, making it harder for Bitcoin to break through and continue its rally. The situation is becoming increasingly urgent, with the next several sessions in focus. A renewed pickup in ETF buying could help Bitcoin absorb supply and reopen the path higher, but if inflows keep shrinking or turn negative, the cryptocurrency may struggle to clear the zone.
Tags/Hashtags: #bitcoin #cryptocurrency #rally #glassnode
Leave a Reply