[Digital Today reporter Yoonseo Lee (이윤서)] Bitcoin is holding near $80,000, and the price range linked to spot bitcoin exchange-traded funds (ETFs) and the estimated average purchase price of listed companies' holdings is drawing attention as a short-term support level.

On Oct. 22, blockchain media outlet CryptoSlate reported that Bitcoin stayed near the $80,000 level even as ETF inflows slowed.

The $80,000 zone is significant because it is a price range where institutional money is heavily concentrated. If Bitcoin holds above it, it effectively protects the break-even level for buyers. If it breaks below, the risk of short-term sentiment weakening could grow.

Fund flows, however, slowed. Based on Farside Investors data, spot bitcoin ETF net inflows fell to $23.2 million on Oct. 20 from $526.7 million on Oct. 19. That was a 95.6 percent drop in a day. Net inflows were positive on both sessions, but the pace weakened quickly. That highlights a gap between price support and buying momentum.

New demand via ETFs also failed to follow through as much as in the prior session. That could be read as a sign the market is leaning toward caution rather than aggressively adding positions ahead of Friday inflation data.

The market focus is on macro variables ahead. If the inflation data due on Friday affects expectations for the interest rate path, both the pace of ETF inflows and Bitcoin's downside support could be put to the test. Even if net inflows remain, the $80,000 level could become less resilient if the amount is small. If the inflation data eases market 부담, the slowed ETF demand could recover again.

It is also worth noting that ETF net inflows have not yet turned negative. Funds remained in net inflow territory on both Oct. 19 and Oct. 20. But with flows dropping from above $500 million to the $20 million range in a day, the market may react more sensitively to changes in the speed of inflows than to whether inflows are simply positive.

Ultimately, there are 2 points to watch in this zone. They are whether Bitcoin can keep holding the $80,000 level, seen as the estimated average institutional purchase price, and whether the slowed ETF inflows pick up again after Friday inflation data. The significance of $80,000 is likely to become clearer only if both price support and fund inflows are confirmed at the same time.