Overview
- Bitcoin fell to the low‑$80,000s after briefly nearing $80,000, down more than 30% from October’s record and on pace for its worst month since 2022 as the total crypto market value dropped below $3 trillion.
- U.S. spot Bitcoin ETFs logged one of their heaviest single‑day outflow totals near $900 million, with large withdrawals reported at BlackRock’s IBIT, erasing a key source of passive buy pressure.
- Options positioning has turned into a technical accelerant, with dealers short gamma around $85,000 and flipping long near $80,000, a dynamic that can intensify declines before stabilizing flows emerge.
- On‑chain and flow gauges show stress, including a 21‑day negative Coinbase premium that signals persistent U.S. spot selling and fear measures sinking to extreme readings.
- Analysts call $80,000 a pivotal floor and warn a clean break could target the mid‑$70,000s, citing fragile liquidity after October’s $19 billion liquidation shock and ongoing forced unwinds.