Overview
- Bitcoin, which slipped to about $79,200 during Thursday’s Asian session, fell below $80,000 after Wednesday’s hot producer‑price report and new Taiwan warnings from the Trump‑Xi meeting.
- U.S. spot Bitcoin ETFs logged $233 million of net withdrawals Tuesday and $635 million Wednesday, the largest single‑day outflow in about three months.
- The rebound stalled at the 200‑day moving average near $82,400, and CryptoQuant’s Coinbase Premium stayed negative since late April, signaling softer U.S. spot buying than offshore markets.
- Derivatives data show a dense long‑liquidation pocket below roughly $78,000, where CoinGlass estimates about $1 billion of bullish positions could be forced to sell.
- Analysts say renewed spot inflows or a clean break back above the 200‑day level would be needed to restore momentum after a 37% climb off April’s lows.