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Bitcoin slipped back toward the $81,000 region on Monday as weakening U.S. institutional demand and renewed geopolitical uncertainty prompted another round of profit-taking across the crypto market.
According to data cited by crypto.news, Bitcoin traded around $80,900 at press time on May 12 after briefly falling toward an intraday low near $80,700. The pullback followed another failed attempt to break above the $82,000 resistance zone, where sellers continued to defend upside momentum.
The Coinbase Bitcoin Premium Index remained negative, indicating weaker buying demand from U.S. institutional investors in recent sessions. The persistent negative reading suggested that U.S.-based investor activity had weakened even as Bitcoin tried to stabilize above major support levels.
Separately, spot Bitcoin ETFs reportedly recorded roughly $350 million in outflows during a recent 48-hour period, a development described as cooling short-term bullish momentum as markets repositioned around the weekly CME gap.
Market sentiment deteriorated after reports said U.S. President Donald Trump rejected a peace proposal from Iran, calling the offer “totally unacceptable.” The development renewed concerns that tensions could escalate further, encouraging a more risk-off stance and weighing on risk assets such as cryptocurrencies.
On the daily chart, Bitcoin remains within a broader ascending parallel channel structure that has been intact since late March. The asset recently touched the upper boundary of the channel before being rejected near the $82,000 resistance area.
BTC is also struggling to hold momentum above the 0.786 Fibonacci retracement level near $80,000, described as an important psychological battleground between bulls and bears. Despite the pullback, Bitcoin is still above the Supertrend support level near $75,600, suggesting the broader bullish trend structure has not fully broken down.
While the MACD remains in positive territory, the histogram has flattened over recent sessions, indicating that bullish momentum may be weakening as buyers lose short-term control.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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