The price of Bitcoin fell below $82,000 on October 23, reaching $81,449.88, marking a 0.97% decline. Outflows from ETFs amounted to $635 million following three consecutive sessions of inflows. CoinGlass data showed cryptocurrency liquidations totaling $406.27 million, affecting 89,596 traders over 24 hours. Bitcoin trading volume is approximately $29.85 billion, with a market capitalization of $1.64 trillion. The decline occurred amid attempts by Bitcoin to hold above the $84,000 mark after reaching highs around $84,778. A drop below $81,000 brings attention back to support in this area.
According to SoSoValue, on October 22, Bitcoin ETFs in the US recorded $635.49 million in outflows after three consecutive sessions of inflows totaling approximately $1.08 billion. This is the largest single-day outflow since June 25, leading to a total outflow of $174.5 million for October. The cryptocurrency market also experienced significant liquidations amid macroeconomic pressure, with the largest liquidation amounting to $7.93 million on the Hyperliquid exchange.
Cryptocurrency market expert Darkfost noted that rising oil prices, particularly Brent above $100 per barrel, could pressure inflation and economic growth. However, he cautioned against direct causal links between oil prices and Bitcoin dynamics.
Analysts such as Michaël van de Poppe highlight $82,900 as an important level that could negate the recent downward pattern. Alex Marzell points out that if Bitcoin fails to hold support in the $81,000–82,000 range, the next support could be $75,000. Each of these levels remains under close watch by market observers.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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