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Bitcoin price traded near $81,000 on October 18 after U.S. spot Bitcoin ETFs recorded $82.39 million in withdrawals. BlackRock and Fidelity accounted for the reported outflows during Friday’s session.
The decline in institutional fund flows coincided with Bitcoin’s struggle to recover from a recent drop below $80,000. Traders continued monitoring nearby moving averages and resistance levels.
Meanwhile, U.S. inflation reached 3.7% in September, increasing uncertainty about the Federal Reserve’s next policy decision. Security concerns around the Strait of Hormuz also kept energy markets under pressure.
Bitcoin ETFs Record $82.39 Million in Daily Outflows
U.S. spot Bitcoin ETFs reported combined net outflows of $82.39 million on October 16, according to SoSoValue data. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $71.78 million, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded $10.61 million in withdrawals. The remaining funds reported no net flows that day.
The figures marked another reversal after the products attracted $5.06 million on October 15. Earlier in the week, the funds recorded $175.7 million in inflows on October 13, followed by approximately $261.4 million in outflows on October 14. The changes showed how daily investor demand fluctuated while Bitcoin traded near a closely watched price range.
Ethereum funds also reported withdrawals on October 16. U.S. spot Ethereum ETFs lost $69.68 million, with BlackRock’s ETHA accounting for the day’s net outflows. The session marked a third consecutive day of withdrawals for Ethereum investment products.
Bitcoin Price Tests Its 50-Week Moving Average
Bitcoin price traded around $81,803 at the time of writing, following a week that included a brief move below $80,000 and a rebound above that level. The crypto had earlier reached prices above $84,000 before buyers failed to maintain the advance. The subsequent pullback brought attention back to support near $81,000.
A BTC/USDT daily chart places the moving average near $81,362. Analyst Mister Crypto identified the line as Bitcoin’s 50-week moving average and pointed to a possible rebound if buyers defend that area. The chart shows the yellow average rising into a horizontal support zone extending from approximately $80,000 to $82,000.
Recent candles have narrowed near the moving average after Bitcoin fell from the $86,000 area. Several sessions show small price changes and repeated attempts to remain above the line. The Bitcoin price prediction therefore identifies a level under test rather than confirming whether support will hold.
Bitcoin Price Prediction Focuses on Support
Bitcoin price continues to trade within a narrow range as buyers struggle to push BTC above nearby resistance levels. Crypto analyst Michaël van de Poppe noted that the tightening price action reflects declining volatility, which could precede a larger market move.
However, the analyst expects a possible false breakout before Bitcoin establishes a clear direction. His chart places BTC near $81,780, with immediate resistance around $82,000.
Van de Poppe identified a potential buying area below $80,000, marked by a blue support zone on his chart. Bitcoin has already tested this region once, and the analyst believes another decline into the area remains possible.
The chart also identifies support near $80,140, while a deeper pullback could bring the $77,380 level into focus. On the upside, the Bitcoin price prediction points to a possible rally toward $90,000 if BTC breaks above the crucial $82,000 resistance.
Bitcoin price prediction shows additional resistance near $82,600, followed by $84,150 and $85,270. Buyers would need to overcome these levels to maintain an upward move.
Inflation and Hormuz Tensions Add Market Pressure
U.S. annual inflation reached 3.7% in September. The reading followed rising energy costs and increased market expectations for further Federal Reserve tightening. Higher borrowing costs remain a consideration for investors evaluating risk assets, including cryptocurrencies.
Shipping security around the Strait of Hormuz also remained in focus. U.S. Central Command chief Admiral Brad Cooper said roughly 400 commercial vessels crossed the waterway over seven days despite attacks on shipping.
He said U.S. measures had prevented at least $25 billion in Iranian crude exports. Continued disruptions could affect oil prices and inflation, leaving Bitcoin traders monitoring economic releases alongside ETF demand and the $80,000 support level.
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets involve significant volatility and potential capital losses. Readers should conduct independent research and consult a qualified financial adviser before making investment decisions.
