Bitcoin hovers at $80,400 as BTC ETF inflows grow

Bitcoin (BTC) is hovering near $80,400 after briefly dipping below $80,000. The key resistance is around $83,000, while on-chain analysts flag $82,000–$83,000 as a crucial decision zone. In the short term, increased transfers from short-term holders to exchanges are adding some selling pressure. However, realized losses are falling and profit-taking appears subdued. On-chain commentary suggests futures positioning may have been tilted the wrong way, a pattern that has historically preceded failed bear-market rallies. BTC ETF flows are a major bullish driver. Analysts cite consistently positive capital momentum through ETFs since early March, which has provided ongoing price support. While an earlier average ETF cost region acted as resistance, continued ETF buying is said to be lifting bullish sentiment. Macro risks remain. Geopolitical tension around Iran is in focus, with the U.S. reportedly taking a wait-and-see approach. Separately, May 15 is highlighted: a new Fed chair is expected to be less supportive of monetary expansion, and oil-driven inflation is likely to complicate near-term rate cuts. Fed member Hammack also emphasized keeping policy options flexible. Traders watching BTC should focus on whether BTC can reclaim/hold above $83,000 for continuation toward higher levels, or whether selling pressure triggers a move back toward a deeper bear-market bounce scenario (with the article citing a potential $56,000 reference point).