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Fred Krueger: Bitcoin falls below $83k as spot ETFs see $485 million outflow

Fred Krueger: Bitcoin falls below $83k as spot ETFs see $485 million outflow
Bitcoin falls as spot ETFs lose $485 million

Fred Krueger, investor & crypto entrepreneur at various NFT/AI projects, reports that Bitcoin slipped approximately 2%, breaking below the $83,000 mark on Thursday, October 8.

Krueger highlights that spot Bitcoin ETFs recorded $485 million in outflows. In addition, the tweet notes that Michael Saylor sees AI agents as future Bitcoin users, advocating for expanded bank custody and lending options. Analyst Willy Woo adds that four-year Bitcoin holders have never underperformed stocks, with a 42% annualized return.

Krueger recently pointed out that Bitcoin hovered near $83,100 after a 3.6% decline driven by seller activity, with Strategy reporting a $21 billion Q3 gain in a previous note. Earlier, he discussed expectations that a $20 billion purchase by Strategy could push Bitcoin to $135,000, with further gains possible in a bull market, as detailed in his prior analysis. These observations provide additional context to his recent comments on ETF outflows and market sentiment.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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