Gorila Capital news
Bitcoin slips under $80,000 even as spot ETFs log fresh inflows
· cryhot
Bitcoin fell back below $80,000 overnight, down about 1.4% on the day, with Ether and Solana losing around 2%. The drop came alongside weakness in Asian tech shares and a hawkish read of the Fed. US spot bitcoin ETFs still took in about $137 million, enough to turn October's net flows positive.
Our view
Price and flows are pulling in different directions. ETF demand suggests longer-term buyers are absorbing the selling, while short-term traders react to rates. We treat $80,000 as a pivot: reclaiming it quickly would ease pressure, failing to do so keeps the market defensive.