Bitcoin tests $80,000 as Asia’s bid fades and Hong Kong AI IPOs surge
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- Glassnode identifies the $80,700 short‑term holder realized price as near‑term resistance.
- Presto Research finds Asian trading hours consistently drag Bitcoin returns, while U.S. and European sessions generate most of the gains.
- Enflux warns that without Asian participation, any sustained push above $80k must rely on U.S. and European liquidity alone.
- U.S. spot Bitcoin ETFs recorded net outflows of $783.4 million last week and a 13.45% drop in trading volume.
- Hong Kong raised roughly HK$110 billion in Q1 IPOs, focusing on AI and technology, while its three spot Bitcoin ETFs remain dormant with daily turnover under $2 million.
Why it matters: Asian crypto investors lose out as HK AI IPOs siphon HK$110bn, while Bitcoin traders risk a stalled rally near $80k, reducing upside for US spot ETF holders.
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