Bitcoin slipped under $80,000 on Friday after failing to hold above a key resistance level near $82,800. The drop comes even as spot Bitcoin ETFs recorded $1.105 billion in weekly inflows, suggesting institutional demand remains strong even as broader market sentiment sours.
Below $80,000
Bitcoin's price fell below the psychologically important $80,000 mark during afternoon trading, extending a pullback that began Thursday when the asset hit resistance at $82,800. The move lower wiped out gains from earlier in the week and left traders scanning for the next support level.
$1.1 billion in ETF inflows
Spot Bitcoin ETF inflows totaled $1.105 billion for the week ending May 7, according to data compiled by the funds' issuers. That's a hefty sum by any measure — roughly equal to Bitcoin's entire market cap movement on some days — and it suggests professional investors are still buying into the dip. Those inflows could help cap further downside, though so far they haven't been enough to reverse the slide.
What to watch
The key question now is whether $80,000 flips from support into resistance. If Bitcoin can reclaim that level quickly, the ETF flows might finally catch up with price. If not, the next floor could be lower. No major economic reports are due next week, so crypto is likely to trade on its own momentum — and on whatever the ETF inflow numbers look like come Monday.
