• Bitcoin slid back toward $80,000 on Saturday, more than a month after it last broke that level.

• U.S. spot Bitcoin ETFs lost over $635 million on Thursday, and $137.94 million on Friday, according to SoSoValue data.

• Galaxy’s Alex Thorn said he is “very confident” the industry will swing back toward decentralized crypto.

Bitcoin’s (BTC) price dropped to around $80,000 on Saturday, a level it last traded at in September, as U.S. spot Bitcoin exchange-traded funds lost over $635 million on Thursday.

The slide came as investors turned sellers on US spot Bitcoin ETFs, with the funds seeing over $635 million in net outflows on Thursday, according to SoSoValue data. This nearly matched the $681…