BitGo CEO Mike Belshe has rejected the claim that artificial intelligence (AI) will break Bitcoin's cryptography. However, he agreed with concerns over the need to protect crypto wallets now for post-quantum risks.
Bitcoin was trading at $81,942.10 on Oct. 8 after moving below the $82,000 level.
Bitcoin traded at $82,722 and Ether at $2,563.70, while JUP, RAY and NEAR approached resistance levels requiring further daily closes to confirm breakouts.
Bitcoin's price is struggling to find its footing on Oct. 8, 2026, after a sharp selloff knocked prices from the mid-$85,000s into the low $82,000s. Trading near $82,500, the cryptocurrency faces mounting pressure across its hourly and four-hour charts, although daily technical indicators remain neutral.
U.S. government wallets moved 9,261 BTC worth $770M to Coinbase Prime, but custody use and reserve rules mean the transfer does not confirm a sale.
Around $487 million flowed out of the US spot ETFs on Bitcoin on net on October 7, 2026, while the price tests the zone around $82,000. What the figure actually measures, why two data providers give two daily values, and what investors in Germany should check on an ETP.
Record Withdrawal Event: Bitcoin ETFs recorded $484.9 million in net outflows on Wednesday, marking their largest single-day withdrawal since June 25. Top Funds Hit Hard: BlackRock's IBIT led the losses with $207.7 million in outflows, followed by Fidelity's FBTC at $105.1 million and ARK 21Shares' ARKB at $101.7 million.
Matt Cole said stock-investment mandates prevent some portfolio managers from buying Bitcoin or Bitcoin ETFs directly, affecting a $500 billion pool of capital.
Spot demand recovered as Bitcoin prices declined, while large Ether and multi-asset leveraged positions highlighted risks across crypto markets.
The U.S. government transferred approximately 9,261 BTC, valued at $770 million, to Coinbase Prime on Tuesday and Wednesday, according to Galaxy Research. While much of the bitcoin originated from known criminal seizures, researchers identified another 2,456 BTC from previously unrecognized holdings.
U.S. spot Bitcoin ETFs held about 1.293 million BTC in an Oct. 8 snapshot valued near $107 billion at a Bitcoin price of $82,606.
Just 24 hours after analysts said big inflows into spot ETFs are required to lift bitcoin BTC$82,440.16 meaningfully above $87,000, a level that has limited gains lately, data shows sentiment went in the opposite direction.