Bitcoin consolidates as U.S. spot Bitcoin ETF net outflows persist

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Bitcoin down 0.38% at $80,404 today

Highlights

U.S. spot Bitcoin ETFs posted net outflows of $773 million across October 23 and 24 as Bitcoin traded near $80,000.
This withdrawal of institutional capital from ETF products reduced underlying demand and liquidity for Bitcoin.
Bitcoin trades below key short- and medium-term moving averages with strong sell signals from momentum indicators, projecting a range of $77,866 to $83,254 over the next 2 to 3 days.

Institutional outflows sap ETF demand as price nears key threshold

On October 24 and 23, U.S. spot Bitcoin ETFs experienced net outflows totaling $773 million as Bitcoin hovered around the $80,000 threshold, according to U. These outflows represent a significant withdrawal of institutional capital from ETF products, which can directly lower underlying demand and liquidity for Bitcoin. Reduced inflows and heightened outflows from ETFs can contribute to softer spot market support, setting a less favorable backdrop for price stability.

Bearish momentum prevails with sellers dominating below resistance

BTC is trading below the MA-20 at $81,285 and MA-50 at $81,885 on the H4 chart, while holding above the MA-200 on the daily timeframe at $72,940. The Ichimoku Kijun stands at $82,059, marking immediate resistance. Momentum indicators show pronounced downside: MACD and ADX both signal Sell, while RSI is at 39.72, CCI and Stoch RSI remain in Sell or Strong Sell territory, confirming oversold readings. Bull/Bear Power reflects ongoing seller dominance in intraday action, while the Awesome Oscillator is currently neutral, not amplifying the prevailing trend. The price settled at $80,404 with a non-zero gap of $175 and closed near the daily low amid subdued volatility. No clear divergences are present across key oscillators.

Downside risk prevails as sideways range expected to hold

Over the coming 2–3 trading days, BTC/USD is projected to move within a volatility band between $77,866 and $83,254. Upward movement is seen as unlikely, while downside risk prevails. The central outlook anticipates rangebound sideways action within this corridor. A sustained bullish recovery would require a move through the Kijun resistance, while a deeper pullback becomes probable if prices break below $77,866.

Viktoras Karapetjanc, expert at Traders Union, observes that Bitcoin remains under pressure amid notable outflows from U.S. spot Bitcoin ETFs. He notes the loss of short-term support but sees stability above long-term trend levels. Macroeconomic factors and institutional sentiment continue to set the tone for near-term price direction. Karapetjanc believes a recovery is possible if resistance is reclaimed, though caution is warranted until inflows improve. "With sustained outflows weighing on sentiment, I see any rebound as a tactical play unless $82,059 is convincingly cleared."

Earlier, analysts noted that persistent ETF outflows and wavering institutional demand were intensifying downside pressure and uncertainty for Bitcoin. The latest market action reinforces this cautious outlook, with sustained negative momentum and elevated downside risk making the $77,866 support level a critical threshold for traders to monitor in the near term.

Source of Data: BTC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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