Bitcoin Pulls Back After Approaching $80K—Can Massive ETF Inflows Absorb the Selling Pressure Above?

Original Author: Boaz Sobrado

Original Translation: AididiaoJP, Foresight News

Bitcoin's price staged a rapid rally and pullback over the past week. After a five-day surge starting from below $63,000, it nearly touched the $80,000 round-number mark, but encountered significant resistance around $79,500, before retreating to consolidate in the $76,000 range.

Analyst account darlene.net posted on August 22, stating bluntly: "Bitcoin got rejected at $79,500, we almost touched $80,000. There's a large pile of sell orders there, but the market will slowly eat through them and keep pushing higher." This remark captures the core expectation of current bulls—as long as buying pressure persists, the overhead supply will eventually be absorbed.

Meanwhile, more direct positive news emerged on the capital front. Analyst Ted Pillows noted on the same day: "ETFs bought $1.92 billion worth of Bitcoin this week. That's the largest single-week inflow since October 2025." Data from Farside Investors shows that weekly inflows peaked on Thursday at $606 million, with a full $503 million of that coming from BlackRock's IBIT. The concentrated influx of institutional capital has become the most solid pillar of support for this rally.