Bitcoin trades at $82,955.50, down 1.1 percent over 24 hours, as Ether slipped 1.7 percent to $2,451.34 and the CoinDesk 20 Index lost 1.6 percent. Nasdaq 100 and S&P 500 futures are trading lower in pre-market action, with Asian equities and rising oil prices weighing on risk sentiment.
Coinbase Global and Galaxy Digital shares fell in pre-market trading. QCP Capital analysts warned that sustained equity deleveraging could pressure Bitcoin below its $80,000 support level if weakness persists.
Bitcoin has held above $80,000 despite the selloff. U.S. spot Bitcoin ETFs pulled in approximately $527 million in net flows Monday—their largest inflow in a month. BlackRock's IBIT fund alone recorded $665 million in inflows, marking its biggest single-day accumulation in over a year.
But the demand is concentrated. While IBIT drew massive capital, Fidelity and Grayscale's Bitcoin vehicles saw net outflows during the same period, signaling selective accumulation favoring specific vehicles over others.
Ether ETFs registered $103.3 million in outflows, extending their fourth consecutive day of withdrawals. The divergence shows investors are choosing Bitcoin over the broader crypto sector right now.
The macro backdrop remains challenging. The U.S. 10-year Treasury yield sits at 5.13 percent. Brent crude oil near $110 a barrel sustains energy-driven inflation risks without geopolitical relief.
QCP Capital noted that a sustained Treasury rally paired with falling real yields and a weaker dollar could support risk assets, typically favoring higher-beta plays like digital currencies.
The Federal Reserve is expected to hold rates steady at next week's meeting, but prediction markets are pricing in a 25 basis-point increase the following month, reflecting continued tightening concerns.
Bitcoin's weekly price trend holds key support above its 50-week exponential moving average. The relative strength index shows no divergence, pointing to price consolidation above support rather than a breakdown.
