Overview
- Bitcoin, which slipped below $80,000 after reported U.S. strikes in Iran on Thursday, saw about $300 million in leveraged futures wiped out as traders cut risk and bought downside protection.
- Spot Bitcoin ETFs that had built a multi‑week inflow streak and record assets around $108.76 billion registered a single‑day net outflow of $277.5 million on Thursday, interrupting recent daily gains.
- Price was rejected near $82,800 and is hovering around $79,000–$80,000, with Glassnode noting reclaimed support at the True Market Mean near $78,200 and the short‑term holder cost basis around $79,100.
- Options and futures positioning turned more defensive, with heavily traded protective puts at $80,000, $75,000 and $60,000 even as the 25‑delta skew had been compressing toward neutral across tenors.
- Analysts highlight $78,000–$78,500 as near‑term support and the Active Realized Price around $85,200 as the next major hurdle, with the path depending on whether ETF inflows resume and tensions ease.