Bitcoin Slides as France Eyes Stablecoin Tax and BlackRock ETF Surges

Bitcoin fell roughly 1.1% on Monday to trade near $81,460, weighed down by declining Asian equities and a jump in oil prices. Analysts at QCP Capital warned that broader equity deleveraging could transmit into crypto markets and potentially threaten the $80,000 support level if selling pressure is sustained. Ether fell 1.7% over the same period and the broader CoinDesk 20 Index shed about 1.6%.

Adding to the bearish backdrop, U.S. spot Bitcoin ETFs recorded roughly $228.6 million in weekly outflows, and inflation concerns tied to the Federal Reserve's next interest rate decision continued to weigh on sentiment. Technical indicators including the Ichimoku Cloud and Chaikin Money Flow on the daily chart showed continued bearish pressure, with $81,144 and $80,000 identified as the next key support levels. Bitcoin would need to reclaim $82,587 and then $83,457 to signal any meaningful recovery.

BlackRock IBIT Posts Strongest Single Session Since October 2025

Despite the broader weakness, Monday's session produced a notable bright spot on the institutional front. BlackRock's IBIT Bitcoin ETF attracted $665.2 million in a single day, its strongest session since October 2025, lifting combined U.S. spot Bitcoin ETF inflows to $526.6 million for the day. Analysts at Presto Research suggested investors may be positioning for a potential catch-up trade in Bitcoin relative to other risk assets that have already recovered.

On the regulatory front, France's parliament approved a vote to hit stablecoin trades with a 31% capital gains tax, a move that rattled European crypto markets and drew immediate criticism from digital asset advocates who argue the levy could push stablecoin activity offshore. The development adds to a growing patchwork of stablecoin rules across Europe, coming just months after the EU's MiCA grandfathering window closed in July 2026. Taken together, Monday's session underscored the tension between rising institutional Bitcoin appetite and the macro and regulatory headwinds still facing the broader crypto market.