Bitcoin (BTC) ETF Outflows Hit $910M in a Second Straight Weekly Retreat

Two Weeks of Redemption Pressure

A second straight week of net outflows from United States spot ETF funds has drained $910 million from Bitcoin (BTC) products, according to COINOTAKU, with the week from Monday, October 12 to Friday, October 16 alone accounting for $228.6 million in redemptions. The Bitcoin price has since steadied near $81,700, down 0.7% over the past 24 hours, after the slide briefly took the asset under $80,000 on Thursday, October 15. The driver this time is macro, not crypto-specific selling. September's consumer price index and producer price index both came in above forecasts, and markets read the prints as inflation building again, strengthening the view that the Federal Reserve will deliver an additional rate hike at its meeting on Tuesday, October 27 and Wednesday, October 28. Expectations of that hike firmed through the week and weighed on risk assets across the board. The weekly candle confirms the pressure. Bitcoin closed the week ended Sunday, October 18 down 2.25%, its second consecutive weekly decline, and the drop echoed across the wider Bitcoin (BTC) market and into Ether's own ETF complex, which also recorded outflows. The slide extends a run of weak ETF demand documented earlier in October. Friday, October 16 delivered the steepest leg, with the asset falling alongside a weak session in United States equities. Over the weekend, semiconductor-linked perpetual futures on some exchanges plunged, dragging spot prices lower for a time before the market found its footing. What the flows show is that institutional demand through the ETF wrapper has now turned negative for a second period running, and until that reverses, the market is trading on macro expectations rather than fresh allocation.

The $81,700 Defense Line

The chart damage from those two red weeks is specific. The weekly close landed under the $82,500–$82,800 support band, a level that now functions as resistance if price recovers into it. Relief came only on Monday, October 19, when cheaper crude oil and falling United States rates eased the risk-off mood and carried the asset into the $83,000 range. Liquidation data suggests the move was largely mechanical: roughly 70% of forced closures were short positions, so a squeeze, not fresh buying, did much of the lifting. The push stalled anyway. Offers sit heavily above $83,000, by Tuesday morning price had slipped back toward $82,000, and it now trades just under that mark near $81,700. That level carries weight because the market has stopped exactly there three times; for short-term traders it is the defense line. The daily relative strength index reads near 48, neutral, with no directional call yet from momentum. Above, the $83,000 to $84,000 band is the first resistance cluster. Below, the daily 50-day moving average near $80,000 still holds as the medium-term floor for the largest proof-of-work asset, a zone where Glassnode sees sellers fade. A clean break under $81,000 redraws the map and opens a path toward $76,000, where leveraged long liquidations could widen volatility again. The week ahead is dense: the Fed has entered its blackout period, Meta and Tesla report on Wednesday, October 21, Japan's national CPI and United States PMI flash estimates land on Friday, October 23, and the FOMC convenes on Tuesday, October 27 and Wednesday, October 28. Working scenarios from the weekly structure put $86,000 and then $94,000 in play within about a month on the upside, and $76,000, then $68,000, on the downside.

Positioning data frames the fight as an even one. COINOTAG's composite scoring puts the nearest support at $81,363, where the 50-day simple moving average and the Ichimoku cloud top converge for a score of 91 out of 100, against resistance at $84,404 carrying 89 out of 100. Neither side looks crowded: open interest stands at $16.06 billion, the long/short account ratio reads 1.92, and the Fear & Greed Index at 55 keeps sentiment in mild greed rather than euphoria. Spot buyers appear content to HODL through the range, and the month's drift, a -2.2% October return against a +18.34% historical average, fits a market marking time. The October 28 decision is the event most likely to decide which of the two levels gives first; a fuller read sits on our Bitcoin technical analysis page.