Bitcoin Price Sees Resistance Buildup Near $80K Amid ETF Flows and Derivatives

The Bitcoin price has been hovering around the $80,000 mark, with traders closely watching the impact of ETF inflows and derivatives buildup on its trajectory. According to Coin Bureau, spot Bitcoin exchange-traded funds recorded $629.7 million in May inflows, marking the weakest month since launch but extending a three-month positive streak.

However, Ecoinometrics notes that ETF inflows earlier reached $1.97 billion in April with a nine-day streak, suggesting sustained buying and tighter circulating supply. This trend is supported by CryptoQuant data showing OTC desk balances dropping by about 20,700 BTC over 30 days, implying coins moved off desks and reducing immediate sell-side liquidity.

Velo Data shows open interest rose 6.64% to 257,000 BTC in 24 hours, reflecting new leveraged positions entering the market during consolidation. CoinGlass data identifies $2.1 billion in short positions near the $78,000–$80,000 range, increasing the probability of a squeeze due to liquidity clustering at this zone.

Michaël van de Poppe suggests early-month ETF inflows often trigger upward moves before mid-month slowdowns. He identifies resistance between $86,000 and $88,000, with the 50-week moving average near $93,000–$95,000. A break above this range would confirm trend continuation, while failure could lead to a retracement toward $80,000.