Bitcoin Pulls Back as Spot ETF Outflows Top $540 Million
Bitcoin (BITSTAMP:BTCUSD) pulled back from near $87,270 to around $80,900 before trading near $82,134, pressured by sustained capital withdrawals from spot investment products. US spot Bitcoin ETFs recorded approximately $540 million in net outflows between Oct. 1 and Oct. 14, including nearly $262 million in a single session. The decline pushed the asset below its 50-day moving average and key technical support at $82,233.
The price movement generated heavy volatility in derivatives markets, triggering roughly $930 million in liquidations during the initial drop, with long positions making up $780 million of the total. Futures open interest dropped from about $62 billion last month to $52 billion, while the Coinbase spot premium remained negative. Increased stop-loss selling near the $80,000 level squeezed short-term holders, shrinking their unrealized profit cushion from 16% to 10%.
Despite short-term technical weakness and downside targets near $74,933, mid-to-large investors continue to accumulate. Wallets holding between 10 and 10,000 BTC reached a record high of 20,338 addresses, and short-term holders have added 422,000 BTC since July. Investors are now watching whether prices hold above the $80,000 support zone or if a daily close above $88,000 signals renewed ETF inflows and supply absorption.
Key points
- US spot Bitcoin ETFs experienced roughly $540 million in net outflows during the first two weeks of October.
- Bitcoin price slid below its 50-day moving average and support levels, opening potential downside toward $74,933.
- Derivatives volatility caused $930 million in liquidations during the decline, mainly impacting long traders.
- Wallets holding between 10 and 10,000 BTC expanded to a record 20,338 addresses despite market volatility.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
Why did Bitcoin price drop recently?
Bitcoin fell from around $87,270 toward $80,900 largely due to net outflows from US spot Bitcoin ETFs, which totaled roughly $540 million over the first two weeks of October.
How much money was liquidated in Bitcoin futures during the sell-off?
The initial price decline triggered approximately $930 million in derivatives liquidations, with long positions accounting for about $780 million of the total.
Are large investors still accumulating Bitcoin?
Yes, on-chain data shows addresses holding between 10 and 10,000 BTC reached a record 20,338 wallets, while short-term holders have added 422,000 BTC since July.