Bitcoin’s slide amid shifting US rate expectations
Bitcoin opened the day at $78,920, a 0.95 % decline that left the digital asset below the $80,000 threshold. The dip followed a brief rally when Treasury yields eased, briefly lifting risk‑asset sentiment. However, a stronger‑than‑expected US jobs report pushed bond yields higher again, pulling Bitcoin back into lower territory.
### Institutional demand stays resilient
Research analyst Riya Sehgal of Delta Exchange noted that despite the price pullback, institutional flows remain a supportive factor. Spot Bitcoin ETFs attracted nearly $987 million last week, while Ether ETFs added roughly $218 million. These inflows suggest that the recent dip has not triggered a wholesale retreat in institutional demand.
### Technical picture
Bitcoin is currently testing a support zone between $78,500 and $78,700. The 2‑hour Relative Strength Index (RSI) has slipped below 40, indicating weakening momentum. A sustained break below this area could bring the price into the $77,000–$77,400 range. Conversely, a rebound to $79,500 would improve the near‑term structure and reopen the $80,000–$80,500 resistance band.
### Market sentiment and broader context
The crypto fear‑and‑greed index sits at 71, signalling a relatively greedy market. CoinDCX reported that Injective led the day’s gains with a 22.9 % rise, followed by Aerodrome Finance and Worldcoin. On the downside, Dash fell 11.8 %, Arbitrum dropped 9.4 %, and Jupiter slid 8.3 %.
### Expert views on the next move
Nischal Shetty, founder of WazirX, highlighted that US equities are starting the session on a softer note but that a full risk‑off environment has not yet materialised. He pointed to oil prices—currently above $97—as a key factor that could keep inflation and Fed expectations elevated. "Bitcoin’s next move may depend more on whether rising energy prices translate into tighter liquidity expectations," Shetty said.
Avinash Shekhar, co‑founder and CEO of Pi42, added that the coming sessions will be crucial in determining whether the current pullback is a pause before a new rally. He stressed that a market that can absorb short‑term pressure, hold key support levels, and recover without excessive leverage would provide a stronger foundation for the next leg of the rally.
What to watch next
- **Yield trajectory**: If Treasury yields remain contained, Bitcoin could absorb the equity pullback and target the $80,000–$80,500 zone again. - **Energy prices**: Sustained high oil prices may keep inflation expectations elevated, potentially tightening liquidity and exerting further pressure on crypto. - **Institutional flows**: Continued inflows into spot Bitcoin ETFs will be a barometer of long‑term demand. - **Technical breakouts**: A clear move above $80,500 could bring $85,000 and $90,000 into focus, while a break below $78,500 could test lower support.
The next few trading days will reveal whether Bitcoin can rebound from its current support area or whether the pullback signals a deeper correction.