Bitcoin struggles below $80,000 as Asian trading lags and Hong Kong AI IPOs attract capital.

Bitcoin repeatedly tests but fails to break above $80,000, facing resistance near $80,700 from short-term holders. Asian trading hours have dragged on bitcoin returns, with Hong Kong's spot bitcoin ETFs largely inactive and regional capital shifting to a booming AI and tech IPO market in mainland China. U.S. spot bitcoin ETFs also saw outflows and weaker buying pressure, causing the recent rally to lose momentum. The market now views $80,000 as the top of a trading range ahead of Friday's U.S. payrolls report, which could be a key catalyst for the next move in bitcoin's price.