Bitcoin Holds Below $80,000 as ETF Demand Tops $1B Again

Bitcoin held below $80,000 on Monday as crypto ETF inflows topped $1.24 billion for a third straight week. Jupiter and Zcash gained.

The token traded around $79,939, under the $80,000 line and below the May 6 high of $82,850, the next resistance level cited by technical traders. The pullback followed stronger US employment data, which put the path of Federal Reserve rates back at the center of risk-asset pricing.

ETF cash offsets spot weakness

CoinGlass data showed crypto-focused ETFs drew $1.24 billion last week, the third consecutive week above $1 billion. Bitcoin products accounted for $986 million, while Ethereum funds added $218 million, leaving Dogecoin as the exception with $343,580 in outflows.

The flows gave the market a split signal: spot Bitcoin softened, while regulated funds continued to attract fresh money. For large allocators, ETFs remain the simplest route to crypto exposure because they sit inside existing custody, compliance and reporting systems.

Zcash fund draws $45 million

Zcash stood out in the fund data as Grayscale's ZEC-focused trust-turned-ETF, ZCSH, brought in more than $45 million over seven trading sessions. Assets under management topped $430 million, putting privacy-linked crypto exposure into the same flow conversation as larger tokens.

Jupiter and Zcash also extended gains in the latest 24-hour window, making them the strongest names cited in the market snapshot. Their advance contrasted with Bitcoin's stall near resistance, a reminder that ETF demand and token performance can diverge over short periods.

Resistance sits at $82,850

Bitcoin remains above its 50-day, 100-day and 200-day exponential moving averages, which were clustered between $70,000 and $73,000 in the technical setup. That band sits below the latest price and is being treated as a support zone by chart-focused traders.

The first upside test is the May 6 peak at $82,850; a move through that level would put the 78.6% Fibonacci retracement at $89,337 in view. That retracement is measured from $97,924 down to $57,800, giving traders a defined range rather than a loose price target.

Momentum signals were less clean. The relative strength index hovered near 66, below the 70 threshold often used to mark overbought conditions, while the moving average convergence divergence slipped under its signal line.

Rates frame crypto flows

The near-term macro channel is interest-rate pricing. If stronger labor data keeps rate expectations elevated, the macro effect would be a higher bar for non-yielding assets; Bitcoin may struggle to clear $82,850 even if ETF inflows stay above the $1 billion weekly mark.

If rate expectations ease instead, the same ETF bid could amplify a break above resistance by adding demand through regulated vehicles. In that scenario, Bitcoin would regain leadership, Grayscale's ZCSH would test whether privacy-linked demand is durable, and crypto issuers would have a clearer case for more specialized funds.

The main open question is whether last week's $1.24 billion in ETF inflows can persist if spot prices keep failing near $82,850. A break below the moving-average band at $70,000 to $73,000 would weaken the technical case; a close above the May 6 high would shift attention to $89,337.