Bitcoin Stalls Near $81,500 as ETF Outflows and Rising Oil Weigh on Markets
South Korea’s Kospi remained largely unchanged overnight, suggesting that pressure on artificial intelligence-related stocks may be easing. Nasdaq 100 futures also showed little movement, while oil prices continued to rise.
Bitcoin remained below the average cost basis of U.S. spot Bitcoin exchange-traded funds (ETFs), trading slightly above $81,000 against an average acquisition price of $82,313. This benchmark reflects the average price at which Bitcoin has entered these funds over time.
Bitcoin ETFs See Biggest Daily Withdrawals Since June
U.S. spot Bitcoin ETFs recorded $635 million in outflows on Thursday, according to Farside Investors, marking their largest daily withdrawal since June 25 as financial markets came under pressure.
Although some investors may interpret heavy outflows as a sign that speculative traders are leaving the market before a rebound, historical data suggests the aftermath of large withdrawals has often been unfavorable for Bitcoin.
Farside’s figures show that on the 22 previous occasions when daily ETF outflows exceeded $300 million, Bitcoin generally traded lower 7, 30 and 90 days later.
However, the historical sample remains limited because spot Bitcoin ETFs have been available for less than three years. The results may also be distorted by the bear market that began in October 2025, making it difficult to draw firm conclusions about future price movements.
BTC Trades Sideways After Several Days of Sharp Swings
Bitcoin briefly declined toward $81,000 late Thursday before entering a relatively narrow trading range. By early Friday, it was trading near $81,500, with price movements limited to less than $1,000 after a week of swings approaching $3,000.
The cryptocurrency was down 0.4% over the previous 24 hours and remained below $82,500, a level that had previously acted as support before breaking on Thursday.
Altcoin performance was mixed. BNB rose nearly 2% to approximately $745, while Dogecoin (DOGE) gained around 1%.
Monero (XMR) fell 7% to roughly $607, reversing part of its previous session’s gains. Zcash (ZEC) declined nearly 4% to about $1,200. HYPE, XRP, Ether and Solana (SOL) each slipped by around 1% or less, with Ether trading just below $2,400, according to CoinDesk data.
Oil Prices Complicate the Inflation Outlook
U.S. stock markets showed signs of stabilization following Thursday’s technology-led decline. Nasdaq 100 futures were little changed after the index suffered its steepest daily loss since June, while a semiconductor-focused ETF edged higher before the market opened.
Meta shares continued to weaken, while SpaceX advanced following reports that it intends to become a wireless carrier.
Oil remained a major source of concern. Brent crude climbed to its highest level since early May, adding pressure to the inflation outlook ahead of the Federal Reserve’s Oct. 27–28 meeting.
Treasury markets also gave back some of Thursday’s gains, when investors sought safety and the 10-year Treasury yield recorded its largest decline in more than a year. Gold and the U.S. dollar traded broadly flat as investors assessed the changing market environment.
