Bitcoin falls under $80K but four-month high in weekly BTC ETF inflows may curb selling
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Bitcoin hit resistance at $82,800, triggering a drop below $80,000, but a $1.105 billion weekly inflow into spot BTC ETFs could slow sellers.
Bitcoin (BTC) price dropped to $79,800 on Thursday after being rejected at a key dynamic resistance level. The pullback occurred despite the weekly spot Bitcoin exchange-traded fund (ETF) inflows surging past $1 billion for the first time since January, but technical data suggests the correction may be short-lived.
Bitcoin’s dip below $80,000 came amid a bearish divergence in the relative strength index (RSI) on the one-hour and four-hour charts. A bearish divergence occurs when BTC forms higher highs while the RSI weakens across lower timeframes, signaling fading buying momentum during a rally.
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