Bitcoin briefly drops below $81K as $771M in crypto liquidations hits traders. Analysts watch $80K support ahead of US inflation data.
The transfer to Coinbase Prime included 860.393 Bitcoin worth $71.54 million and 52,488 Ether valued at $131 million.
The transfer included 860.393 BTC worth about $71.54 million and 52,488 ETH valued at roughly $131 million.
The company has completed another subtantial BTC purchase, extending its accumulation streak.
U.S. crypto ETFs opened the week under renewed pressure, with bitcoin funds losing $65.40 million and ether ETFs extending their outflow streak to 10 consecutive sessions.
Major exchanges recorded a 1,799 BTC daily net inflow, while weekly and monthly balances stayed negative. Binance BTCUSDT volume rose 219% in Asia and 561.6% in the US session.
While the attention of the general public has shifted from Bitcoin, drifting in a sideways range, to more volatile assets, its long-term metrics have completed the transition into a phase of a deep cyclical bottom.
Bitcoin fell below $81,000 before recovering above $84,000, while crypto-futures liquidations reached about $814 million over 24 hours.
A Bitcoin whale moved 4,582 BTC worth $377.6 million to five addresses after holding since March 2020, when the balance was worth $40.8 million. Four wallets received 1,000 BTC each and a fifth 582 BTC, but none had moved the coins or been identified as exchange deposits. The wallet made a 0.
ETF Outflows: Bitcoin and Ethereum ETFs recorded combined net outflows of $150.8 million on Oct. 12. BTC funds lost $65.4 million, while Ethereum products saw $85.4 million leave the sector. IBIT Concentration: BlackRock's IBIT accounted for the full $65.4 million in withdrawals from BTC ETFs.
U.S. spot Bitcoin ETFs returned to daily net outflows, led by a $65.4 million exit from BlackRock's IBIT. Total net assets stood at $106.06 billion.
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