Bitcoin Holds Above $79K as ETF Inflow Streak Hits Eight Days, Testing the $80K Resistance Wall

Bitcoin Holds Above $79K as ETF Inflow Streak Hits Eight Days, Testing the $80K Resistance Wall

Bitcoin's rally is entering a consolidation phase, but the underlying demand story in the United States remains firmly intact. On Thursday, BTC held its ground above $79,000 even as several altcoins drifted lower, with institutional buying via US spot ETFs now extending into its eighth consecutive session.

Institutional Demand Keeps Bitcoin Anchored Above $79,000

U.S. spot bitcoin ETFs logged an eighth straight day of net inflows, pulling in a combined $2.8 billion in the longest streak since April, even as altcoins broadly drifted lower. Wednesday alone brought roughly $232 million into the funds, while ether ETFs matched the eight-day run, adding about $192 million and pushing their own streak past $1 billion; smaller products tracking XRP, HYPE and Solana also drew fresh capital. Derivatives data reinforced the picture of a spot-driven advance: bitcoin futures open interest stayed flat near 700,000 BTC even as price pushed higher, which typically points to a steadier rally with less risk of sudden liquidation cascades. 

Why Bitcoin Keeps Stalling Near $80,000

Despite the steady institutional bid, bitcoin has repeatedly failed to hold above the psychologically important $80,000 mark. Nearly 8% of bitcoin's circulating supply currently sits between $80,000 and $82,000, creating a dense wall of resistance right where a large share of ETF holders' average cost basis also lands. That overlap between a heavy supply cluster and the price at which many ETF buyers entered the market helps explain why every attempt to break decisively above $80,000 has so far met selling pressure. 

What's Fueling the Move

The catalyst behind the broader momentum has been the U.S. Treasury's decision to double its long-term bond buybacks, a move that helped push bitcoin out of a six-week sideways range and triggered more than $3 billion in short-position liquidations. Separately, a strong earnings beat from Nvidia lifted technology stocks and gave an added lift to bitcoin and other risk assets in the same session. Together, these macro tailwinds have kept risk appetite elevated even as the token consolidates just below its recent highs. 

What It Means for US Investors

For now, the combination of persistent ETF inflows and a well-defined supply wall suggests a market that is digesting gains rather than reversing them. A decisive close above $80,000–$82,000 would need to absorb that supply cluster, while continued net inflows would signal that institutional conviction remains strong enough to eventually push through it. As always, short-term price action remains volatile, and this article does not constitute financial advice.