Bitcoin Slips Below $80,000 as ETF Selling Since May 12 Deepens Bear-Market Fears
Updated
Updated · XTB · May 20
Bitcoin Slips Below $80,000 as ETF Selling Since May 12 Deepens Bear-Market Fears
14 articles · Updated · XTB · May 20
$80,000 gave way for Bitcoin, and the drop below its 50-day EMA has sharpened worries that the correction could extend toward $60,000.
ETF flow data since May 12 shows institutional profit-taking, even as the S&P 500 and Nasdaq 100 hit fresh highs — a divergence that echoes selling seen before the winter 2025-2026 correction.
$83,600 marked strong resistance at the 61.8% Fibonacci retracement and near the 200-session EMA, where the latest rebound stalled before momentum weakened again.
May-to-September seasonality, a stronger dollar and higher Treasury yields are adding pressure on crypto, while any Iran-linked oil shock through the Strait of Hormuz could lift inflation and keep the Fed hawkish.
$56.7 billion is still held in Bitcoin ETFs, leaving them a key long-term demand source even as near-term flows turn negative.
Can bullish on-chain metrics overcome a hawkish Fed and global instability to rescue Bitcoin's market?
While institutions are selling, can MicroStrategy’s aggressive buying strategy prevent a deeper crypto winter?