Bitcoin (BTC) — Onchain News & Whale Tracking

Bitcoin sees a short-term rebound, breaking through the $81,000 mark.

According to HTX market data, Bitcoin has rebounded in the short term to break through $81,000, and is currently trading at $80,968, with a 24-hour increase of 0.04%.

Peter Schiff: Bitcoin’s next support level stands at $75,000, and ETF holders will be unable to sell over the weekend.

Long-time Bitcoin critic Peter Schiff said in a post that Bitcoin is starting to weaken again, with its next support level potentially at $75,000. Bitcoin investors, especially ETF investors, may face a tough weekend as they will have to wait until Monday to sell.

DWF: Bitcoin ETF fund flows are less affected by basis trading, thus more accurately reflecting the market's real demand.

DWF Labs stated in a post that roughly one-fifth of Bitcoin ETF capital flows may be hedged through CME basis trades. Hedge funds' net short Bitcoin positions peaked at around 116,000 BTC in December 2024, and have since fallen to approximately 29,000 BTC. With reduced disruption from basis trades, Bitcoin ETF capital flows now more accurately reflect the market's actual demand.

Bitcoin Treasury Company purchased nearly 136,000 BTC via preferred stock financing, exceeding 0.5% of Bitcoin's maximum supply.

Fidelity data shows that as of October 5, 2025, bitcoin treasury firms including Strategy and Strive have used related preferred stock financing to purchase 135,979 BTC, accounting for over 0.5% of bitcoin’s total maximum supply. The market size of this type of preferred stock is approximately $120 billion. Analysts note these firms face a balancing act between using perpetual preferred stock financing to buy bitcoin and sustaining dividend payments. Perpetual preferred stock has no fixed maturity date, easing refinancing pressure and attracting income-focused investors reluctant to hold bitcoin directly. However, as issuance scales up, dividend expenses will rise. Analysts add that sustained financing for bitcoin purchases depends on preferred stock trading at or near par value; if it trades below par, new issuances will become less attractive, and firms may lean toward buybacks. CoinShares Head of Research James Butterfill points out that Strategy’s latest weekly report shows the firm spent $193 million to repurchase STRC, bought only 267 BTC in the same period, and raised its preferred stock repurchase authorization cap to $30 billion. He says buybacks can reduce future dividend costs, but also compete with current bitcoin purchases for capital. Bitwise Head of Research Ryan Rasmussen forecasts that ETFs will remain a larger source of bitcoin demand in the long run, while perpetual preferred stock caters to a distinct group of income-focused investors, providing a second stream of demand support. Butterfill believes preferred stock could amplify market cycles: it supports bitcoin purchases when financing conditions are favorable, but that support weakens when market sentiment deteriorates.

Bitcoin fell below $80,000, altcoins saw sharp pullbacks, with Q plunging over 34% and PHA and CT both dropping more than 22%.

According to HTX market data, as Bitcoin pulled back below $80,000, altcoins saw sharp declines. The following tokens recorded notable 24-hour drops: Q is priced at $0.080162, down 34.35%; PHA at $0.0499, down 24.38%; CT at $0.1619, down 22.22%; SOPH at $0.001458, down 17.95%; FARTCOIN at $0.122, down 16.78%; "4" at $0.011367, down 14.99%; WLD at $0.462, down 12.80%; and PONS at $0.2239, down 12.30%.

Bitcoin falls below $80,000

According to HTX market data, Bitcoin has fallen below $80,000, with a 1.72% drop in the past 24 hours.

Analyst: Bitcoin has seen notable pullbacks in every prior U.S. midterm election cycle, and its key support level of $73,000 requires close attention.

Crypto analyst Ali Charts wrote in a post that as the November 3 US midterm elections approach, investors may overlook the recurring Bitcoin pullbacks seen in previous election cycles. He believes this election could again bring significant volatility, with downside risks worth noting, and his key support level to watch is $73,000. According to his statistics, Bitcoin saw pullbacks of 72%, 65%, 52%, and 27% during the US midterm election cycles in 2010, 2014, 2018, and 2022 respectively. However, he emphasized that correlation does not equal causation; the elections themselves may not be the cause of the drops, and these pullbacks are also influenced by Bitcoin’s overall market cycle, liquidity conditions, and investor sentiment. Q4 returns show a similar pattern: Bitcoin fell 16.70%, 42.16%, and 14.75% in Q4 of 2014, 2018, and 2022 respectively. The only exception was 2010, when it rose 391%—though Bitcoin was still in its early stages back then. As a result, three of the past four midterm election years saw negative Q4 returns. Regarding future price action, Ali Charts noted that the $73,000 level is near the average acquisition cost of Bitcoin’s current short-term holders, making it a key area to monitor the positioning of recent investors. He pointed out that in an established bull market, Bitcoin often finds support near the short-term holder average cost after a significant pullback. He believes that if selling pressure accelerates after the November 3 elections, pushing Bitcoin back toward $73,000, this zone will be a critical level to test whether buyers are still willing to uphold the overall bullish trend. If prices rebound sustainably from this area, it will reinforce the bullish thesis. For trading, he will wait for signs of selling pressure drying up and demand reemerging before considering opening long positions.

Renowned Trader: Bitcoin Should Add Positions Instead of Panicking When It Hits $80,000 'Buy Zone'

Renowned crypto trader Doctor Profit stated in a post that every time Bitcoin hits its "buy zone", it is an opportune moment to add to existing long positions, and he is currently executing this strategy. His accompanying chart labels the area near $80,000 as the "buy zone", emphasizing: "This zone is for buying, not panicking."

This week, U.S. spot Bitcoin ETFs recorded net inflows of $301.2 million, with BlackRock’s IBIT alone attracting $565.7 million in inflows.

According to Farside's monitoring, net inflows into U.S. spot Bitcoin ETFs totaled $301.2 million this week. The breakdown is as follows: BlackRock’s IBIT saw a net inflow of $565.7 million; FBTC recorded a net outflow of $116.6 million; BITB posted a net outflow of $18.5 million; ARKB had a net outflow of $99.6 million; EZBC notched a net inflow of $7.3 million; MSBT saw a net inflow of $6.5 million; GBTC registered a net outflow of $51.8 million; and BTC recorded a net inflow of $8.2 million.

This week, Bitcoin spot ETFs posted a net inflow of 5,183 BTC, bringing their 2026 cumulative net inflow into positive territory.

Crypto analyst Darkfost noted in a post that spot Bitcoin ETFs recorded net inflows of 5,183 BTC this week. While the inflow volume remains relatively modest, it has turned the 2026 cumulative fund flow of these ETFs positive from negative. As of now, year-to-date net inflows for spot Bitcoin ETFs stand at 10,784 BTC, after being in net outflow for most of the earlier period.

Yesterday, U.S. spot Bitcoin ETFs recorded a net outflow of $137.9 million, while U.S. spot Ethereum ETFs saw a net inflow of $4.4 million.

According to Farside's monitoring, U.S. spot Bitcoin ETFs posted a net outflow of $137.9 million yesterday, marking the second consecutive trading day of large net outflows. U.S. spot Ethereum ETFs, meanwhile, saw a net inflow of $4.4 million.

Prediction market crypto contract trading volume hits a new high, with 15-minute Bitcoin up/down prediction bets surging in popularity.

According to Bloomberg, as Bitcoin prices trade in a range, trading of crypto-related event contracts in prediction markets continues to heat up. Data compiled by Dune Analytics users shows that last week, the notional trading volume of crypto-related contracts on Kalshi and Polymarket hit $2.7 billion, a record high. Among these, short-term Bitcoin price up/down contracts are the most popular, allowing users to bet on whether Bitcoin or other assets’ prices will rise or fall at the end of time windows such as 5 minutes and 15 minutes. A single 15-minute Bitcoin contract on Kalshi can see trading volumes exceeding $1 million, with some traders using trading bots to seek opportunities seconds before contract expiration. Cryptocurrencies have become the second-largest contract category on both Kalshi and Polymarket, trailing only sports. Trading volumes of Bitcoin year-end price contracts on the two platforms are also substantial: as of Thursday, Kalshi’s related contracts saw over $42 million in volume, while a Polymarket contract predicting Bitcoin’s 2026 price recorded around $78 million in trading volume. Crypto trading platforms including Coinbase, Crypto.com, Gemini, and Kraken are actively expanding into prediction markets; some have obtained relevant business authorizations in the U.S., while others are applying for licenses. Bloomberg notes that prediction markets offer new business growth avenues for crypto trading platforms, though legal disputes and regulatory uncertainties surrounding sports contracts could also impact the industry’s future development.

Bitcoin rebounds, breaking through $81,000.

According to HTX market data, Bitcoin has rebounded to break through $81,000, with its 24-hour decline narrowing to 0.98%.

Bitcoin remains range-bound, with markets focused on the Federal Reserve's policy decision, Strategy's financial results, and the U.S. midterm elections.

Bitcoin has been trading in a tight range recently, with investors closely watching the U.S. Federal Reserve’s interest rate decision on October 28, Strategy’s earnings report on October 29, and the U.S. midterm elections on November 3 to gauge its future trajectory. Analysts note that factors such as U.S. inflation, tariffs, and U.S.-Iran tensions continue to weigh on risk assets, while capital flows into spot Bitcoin ETFs remain mixed. The long-short battle in Binance’s perpetual contract market remains intense, with liquidation heatmaps showing around $8 billion in short positions above the spot price and approximately $7.6 billion in long positions below it. Bitcoin’s recent rebound near $84,890 has drained some short-side liquidity, but profit-taking around $85,000 has capped its upside. The $80,000 level is viewed as a key support, with roughly $3.57 billion in long positions near this mark and an additional $3.6 billion around $79,000. Analysts argue that until Bitcoin breaks decisively out of its current trading range, short-term trading is likely to stay choppy and range-bound.

Bankless Co-founder: Bitcoin 'Clone Coins' Heat Up Again, PRL and QTC Surge Simultaneously

Bankless co-founder David Hoffman wrote in a post that a batch of tokens he dubs "2017-era Bitcoin clones" has recently drawn renewed market interest. Among them, PRL rose 30% this week, hitting a fully diluted valuation (FDV) of $4.2 billion. QTC jumped 300% this month, and with a total supply of 21 million tokens, its valuation reached $1.8 billion. Notably, tokens with a fixed supply of 21 million are commanding multi-billion-dollar valuations, a trend that warrants attention.

Bitcoin Core adjusts its vulnerability disclosure policy, and will accelerate the remediation and public disclosure of vulnerabilities detectable by AI.

Bitcoin Core, the core software run by the majority of nodes on the Bitcoin network, is adjusting its vulnerability disclosure policy. On Thursday, project maintainers merged a security policy update: for vulnerabilities that can be re-discovered via AI tools, the team will no longer delay disclosing fixes for months as it did previously. Previously, Bitcoin Core classified all reported security vulnerabilities by severity and scheduled disclosure timelines accordingly. Low-severity flaws were disclosed two weeks after the next major version release; medium and high-severity vulnerabilities remained confidential until two weeks after the last affected version reached end-of-life. The original intent of this mechanism was to quietly release fix patches while delaying public disclosure of vulnerability details, to prevent attackers from learning about flaws before users running Bitcoin nodes could complete upgrades. Bitcoin nodes are responsible for verifying and relaying every Bitcoin transaction. However, this framework was built on the premise that discovering vulnerabilities requires specialized technical skills. As AI tools have grown increasingly prevalent, the methods for finding vulnerabilities have shifted, undermining the old mechanism. Bitcoin Core will implement rapid disclosure and remediation for vulnerabilities that can be found simply by inputting basic prompts into AI models, replacing the previous confidentiality period for vulnerabilities that could last around a year. Maintainers noted that this adjustment will speed up fixes for vulnerabilities easily re-discovered by AI, but related updates may not receive the same level of testing before being released to users. This policy update comes amid a surge in AI-assisted security vulnerability reports. A prior review of 390 Bitcoin-related projects identified a total of 4,962 potential vulnerabilities, 85 of which were classified as critical.

Bitcoin rebounds, breaking through the $82,000 mark.

According to HTX market data, Bitcoin rebounded to break through $82,000, currently trading at $82,028, with a 0.49% gain in the past 24 hours.

Bitcoin ETFs see $571.59M outflow in 1 day, Ethereum ETFs down $276.69M over 7 days

Oct 23 Update: #Bitcoin ETFs: 1D NetFlow: -6,998 $BTC(-$571.59M)?? 7D NetFlow: +4,312 $BTC(+$352.18M)?? #Ethereum ETFs: 1D NetFlow: -19,381 $ETH(-$46.54M)?? 7D NetFlow: -115,218 $ETH(-$276.69M)??

CoinShares: Bitcoin shows resilience, but U.S. inflationary pressures still cap upside for the market.

CoinShares released a report noting that Bitcoin has held up relatively well this week amid renewed volatility in risk asset markets, driven mainly by a rebound in spot buying, improved stock market sentiment, and some short covering. Overall, the market is gradually cooling its enthusiasm for AI-themed narratives, shifting focus to whether corporate earnings can meet expectations. Underperforming earnings from some U.S. companies triggered sharp stock price swings, which also impacted Bitcoin to a degree, though the cryptocurrency still demonstrated strong overall resilience. Meanwhile, U.S. macroeconomic signals remain mixed, with the housing market continuing to weaken. On the interest rate front, markets widely expect the Federal Reserve to hold rates steady at its October 28 policy meeting. Expectations of another Fed rate hike in December remain elevated, with the probability standing near 83%. The soft housing market has given the Fed some leeway to pause rate increases, but last week’s higher-than-expected Consumer Price Index (CPI) and Producer Price Index (PPI) data mean inflation remains a key factor constraining a policy shift. An unexpected Fed rate hike next week could trigger more significant financial market volatility by exceeding market expectations; in contrast, holding rates steady and maintaining a hawkish signal is easier for the market to absorb. Overall, the current market is still a mix of bullish and bearish factors. Improved spot demand, Bitcoin’s increased ability to weather stock market volatility, and a cooling housing market have provided some support; however, lingering inflationary pressures limit the Fed’s room to ease policy. Bitcoin’s future trajectory is expected to remain highly dependent on interest rate expectations and overall liquidity conditions, with single-sector or market catalysts playing a relatively limited role.

Bitwise: Bitcoin’s implied volatility falls to a three-year low, with long-term holders continuing to distribute their holdings.

Bitwise released a report noting that Bitcoin remains resilient near $82,000, a level close to the cost basis of spot ETF holdings. Key support levels below include the cost basis of short-term holders at around $74,800, and the true market average at roughly $77,600. The former serves as a reference for gauging short-term market direction, while the latter corresponds to the price level at which half of all invested capital in the market is either in profit or loss. The price range formed by these two levels may act as a dividing line between bulls and bears. Bitcoin’s 30-day and 60-day trading ranges have narrowed to 1.8% and 3.0% respectively, with at-the-money implied volatility across all tenors also approaching the bottom of its three-year distribution range. Specifically, 3-month and 6-month implied volatility sit at the 0.8th and 0.2nd percentiles of their historical distribution, respectively, indicating the market’s pricing of future volatility has dropped to an extremely low level. So far this week, U.S. spot Bitcoin ETFs have recorded a net inflow of $1.074 billion, rising in tandem with the spot-futures volume differential, providing support for Bitcoin’s price and offsetting some macroeconomic pressure. However, the market’s realized profit has also increased, especially among long-term holders. Meanwhile, the net position change metric for long-term holders is negative, signaling they may be in a phase of distributing their holdings, which could be one of the reasons for Bitcoin’s current prolonged consolidation.

Bloomberg analyst: The risk of commodities "surge followed by a pullback" could persist through the end of the year, including Bitcoin.

Bloomberg Intelligence Senior Commodity Strategist Mike McGlone said in a research note that since 2026, assets including U.S. natural gas, Bitcoin, gold, silver, platinum, palladium, lead, nickel, and iron ore have all posted a "rally-then-drop" pattern, a trend that could extend through the end of the year. McGlone pointed out that to halt the further spread of market downside risks, the U.S. stock market needs to stay resilient.

QCP: Intensifying credit risks in AI infrastructure mean Bitcoin remains unable to shed its risk asset status.

QCP Capital’s latest market analysis notes that credit risks in the AI infrastructure sector are accelerating, with growing market concerns over financing costs, debt repayment capabilities, and returns on AI capital expenditures for related firms, dragging down U.S. equities and crypto markets. CoreWeave’s bond yields have risen to around 15%, and its stock price fell roughly 10% on October 22, reflecting a market reassessment of risks facing AI infrastructure projects reliant on debt financing. QCP points out that credit stress is spreading from CoreWeave to the broader emerging cloud infrastructure sector, prompting investors to re-examine tech firms’ capital expenditure commitments and profit outlooks. Meanwhile, France’s 10-year government bond yield climbed above 5.1%, widening its spread over German bunds to roughly 170 basis points, a sign of rising European sovereign credit and fiscal risk premiums. Geopolitical tensions in the Middle East have pushed Brent crude and WTI crude to five-month highs, further amplifying uncertainty around inflation and monetary policy. On the monetary policy front, market expectations for a Federal Reserve rate hike in October have nearly vanished, while confidence in a December rate cut has also weakened notably, as investors reassess the interplay between tighter credit, slowing economic growth, and inflationary pressures. The current market faces a confluence of multiple risk factors, with capital showing a trend of shifting toward relatively safe assets such as long-term U.S. Treasuries. On Bitcoin, QCP notes that BTC has recently moved in tandem with U.S. equities, reflecting that it remains primarily driven by broader risk sentiment shifts and has not yet exhibited price movements independent of traditional markets. As financing risks in AI infrastructure spread and market risk aversion rises, changes in credit markets could become a key short-term variable impacting BTC and other risk assets’ performance.

Analysis: Bitcoin exchange net outflows have dropped to 1,500 BTC per day, with the current futures market’s long and short sides approaching balance.

CryptoQuant analyst Axel Adler Jr. stated that since September 22, BTC has seen continuous net outflows from trading platforms, though the outflow rate has slowed significantly. Currently, the 30-day moving average of BTC net outflows from exchanges stands at around 1,500 BTC per day, half of the 3,000 BTC daily average recorded a week ago. Adler Jr. pointed out that the recent pullback in net outflows is mainly because the large-scale outflow on September 22 has gradually fallen out of the 30-day statistical window, rather than a large amount of BTC flowing back into trading platforms. As long as this indicator remains below zero, the supply of BTC available for immediate sale on exchanges continues to decline. Meanwhile, the 30-day average position direction indicator in the BTC futures market has risen from -0.5 a week ago to 0.3, indicating that long and short sides are generally balanced. This indicator hit 7.6 at the end of August, then mostly stayed slightly below zero since the end of September; daily readings over the past week have fluctuated between -20.5 and 29, showing active market trading but no sustained clear direction. If trading platforms continue to see net outflows, and the futures position direction indicator holds steady above zero, it will provide support for market demand from both spot and futures sides. Conversely, if BTC shifts to net inflows into trading platforms, and the futures indicator falls back below zero, it could mean an increase in sellable supply and stronger bearish momentum.

Analysis: Brent crude oil continues to trade above $100, macroeconomic pressures may limit Bitcoin's upside potential.

CryptoQuant analyst Darkfost stated in a post that due to ongoing tensions in the Gulf region and Ukraine’s intensified attacks on Russian refineries, Brent crude oil prices have held above $100 per barrel. Rising oil prices are transmitting through the global economy, pushing up costs for production, services, and commodities, further embedding inflationary pressures into the economic system, and potentially raising the risk of an economic slowdown—thereby restricting market liquidity, especially funds flowing into high-risk assets like Bitcoin. Darkfost pointed out that in the long-term trend, when Brent crude remains above its annual average and enters a strong upward trajectory, BTC tends to underperform; conversely, when oil prices fall sharply, BTC is more likely to see a recovery. However, he stressed that this does not imply a simple direct causal link between oil prices and BTC. What truly impacts high-risk assets is the macroeconomic environment accompanying high oil prices. This past July, oil prices briefly dipped, and BTC immediately got an opportunity to rally, but Brent crude has since rebounded notably. While funds may still rotate across different markets, driving BTC to extend its gains, the current macro environment is not favorable for sustained inflows of new liquidity into the market.

Bitcoin Core is adjusting its security policy, with some vulnerabilities to be patched and disclosed immediately.

Bitcoin Core is revising its security vulnerability disclosure policy, as large language models (LLMs) have significantly lowered the threshold for discovering certain software flaws. Bitcoin Core developer Antoine Poinsot said Thursday on the Bitcoin Developers Mailing List that for vulnerabilities easily uncovered via simple LLM prompts, delayed disclosure no longer provides sufficient protection and instead delays the release of fix versions. Under the new policy, for easily discoverable vulnerabilities, Bitcoin Core will roll out fixes as quickly as possible for all still-maintained major versions, and release corresponding security advisories simultaneously. Other vulnerabilities will still be disclosed in phases based on severity: low-severity flaws will be made public two weeks after the major version containing the fix is released; medium and high-severity vulnerabilities are typically disclosed two weeks after the last affected version ends its maintenance. Critical vulnerabilities that severely impact Bitcoin’s core security will follow a separate process. AI-assisted security research is bringing new pressures to the Bitcoin ecosystem. This August, the Bitcoin Red Team reported nearly 5,000 potential issues found across 390 projects; Core Lightning developers also urged node operators to upgrade software or take it offline temporarily after receiving multiple AI-generated vulnerability reports. The policy adjustment aims to shorten the exposure window of easily exploitable vulnerabilities and accelerate the delivery of fix versions.

U.S. spot Bitcoin ETFs recorded a net outflow of $635 million yesterday, while Ethereum ETFs saw a net outflow of $110 million.

According to data from Farside, U.S. spot Bitcoin ETFs posted a net outflow of $635 million yesterday. Among them, BlackRock’s IBIT saw a net outflow of $254 million, Fidelity’s FBTC recorded a net outflow of $217 million, and ARK’s ARKB had a net outflow of $109 million. Additionally, U.S. spot Ethereum ETFs reported a net outflow of $110 million yesterday, with BlackRock’s ETHA seeing a net outflow of $75.5 million and BlackRock’s ETHB recording a net outflow of $17.2 million.

Europe’s only spot Bitcoin ETF has been approved by Swiss regulators, while BIT continues to deepen its compliance and multi-asset strategy.

According to official announcements, BIT’s subsidiary BIT Asset Management AG has secured approval from FINMA to list Europe’s first spot Bitcoin ETF (BBIT) on the SIX Swiss Exchange in November. Backed by Switzerland’s high-net-worth wealth pool, BBIT has opened a compliant channel allowing traditional bank accounts to directly allocate to spot Bitcoin. In terms of business progress, BIT has launched services for US and Hong Kong stocks this year; furthermore, its subsidiary Cactus Custody officially rolled out Swiss custody services last month, further establishing a secure and reliable bridge between traditional finance and crypto assets.

Bitcoin rallied, briefly breaking through $82,000.

According to HTX market data, Bitcoin rebounded and briefly broke through the $82,000 threshold, currently trading at $81,966.

Risk aversion surges across the board, the AI sector leads declines in US stocks, and Bitcoin holds above $81,000 for now.

Overnight to early this morning, risk aversion across U.S. markets surged. Catalysts included attacks on Saudi energy facilities, and reports that the U.S. and Israel have drafted plans to strike Iran after the U.S. midterm elections. Brent crude climbed to a five-month high, while WTI crude hit a five-month peak, approaching $100 per barrel. Adding to uncertainty over the midterm elections, these factors pushed yields on 2-year to 10-year U.S. Treasuries down by more than 15 basis points. The French-German yield spread widened to 175 basis points at one point, the highest level since the 2011 European debt crisis. According to Bitget market data, the S&P 500 closed at 7,662.54 on Thursday, down 1.22%, ending its three-day winning streak. The Nasdaq Composite fell 2.60%. By sector, U.S. consumer staples, healthcare, and utilities led gains, while semiconductors, memory chips, and optical communications led losses. The chip index dropped 6.72%. In individual stocks, per BIT (bit.com) market data, CoreWeave fell 10%, Micron Technology declined 6.26%, Western Digital fell 6.43%, dropping more than 5% in post-earnings after-hours trading. Optical communications firm Coherent tumbled over 12%, while AAOI and LITE both fell more than 11%. Meta’s third-quarter revenue beat expectations, but its capital expenditure continued to rise, lifting future spending commitments to $825 billion and turning its free cash flow negative. The company’s five-year credit default swap (CDS) hit an all-time high. Funding concerns spread along the AI industry chain. Meta closed down 6.98% on Thursday, and fell an additional 0.61% in after-hours trading. Crypto-related stocks also fell, with MSTR down 5%, BMNR dropping over 6%, CRCL declining 3.44%, and COIN falling 4.49%. Per HTX market data, Bitcoin briefly dipped below $81,000 at midnight, then stabilized and consolidated, currently trading at $81,347.20.

If Bitcoin drops below $80,000, total long position liquidations on major centralized exchanges (CEXs) will hit $692 million.

According to Coinglass data, if Bitcoin falls below $80,000, the total long liquidation intensity on major centralized exchanges (CEXs) will reach $692 million. Conversely, if Bitcoin breaks through $83,000, the total short liquidation intensity on major CEXs will hit $1.025 billion. BlockBeats Note: Liquidation charts do not display the exact number of pending liquidations or the exact value of liquidated contracts. The bars on these charts actually represent the relative importance (intensity) of each liquidation cluster compared to adjacent clusters. Therefore, the liquidation chart shows the degree of impact when the underlying asset’s price reaches a specific level. A higher "liquidation bar" indicates that once the price hits that level, it will trigger a stronger reaction due to liquidity waves.

Bitcoin falls below $81,000, with a 4.3% drop in the past 24 hours.

According to HTX market data, Bitcoin fell below $81,000, with a 4.3% decline in the past 24 hours.

Bitcoin ETFs see $470M inflow in 1D, Ethereum ETFs suffer $290M outflow in 7D

Oct 22 Update: #Bitcoin ETFs: 1D NetFlow: +5,766 $BTC(+$470.15M)?? 7D NetFlow: +11,503 $BTC(+$937.97M)?? #Ethereum ETFs: 1D NetFlow: -4,422 $ETH(-$10.63M)?? 7D NetFlow: -120,629 $ETH(-$290.03M)??

DWF Labs: Bitcoin ETF fund flows show clear "buy high, sell low" characteristics, acting as trend followers rather than predictors.

Crypto market maker DWF Labs has released a research report arguing that daily fund flows into U.S. spot Bitcoin ETFs are not a reliable indicator for predicting Bitcoin’s next price moves, as investors tend to buy high and sell low. The study analyzed 694 trading days since the ETFs launched in January 2024, finding that in 7 out of 8 instances where Bitcoin prices dropped by at least 15%, there were corresponding outflows; all 9 cases of equivalent price gains recorded net inflows. Data shows the correlation coefficient between same-day ETF flows and Bitcoin’s price movement over the past five trading days is 0.54, while the correlation with the next five days is only 0.03. The report concludes that "ETF fund flows confirm trends, rather than predict them." In terms of specific fund changes, outflows were most severe during the two latest major sell-offs: investors pulled a net $6.9 billion from October 2025 to February 2026, followed by another $8.2 billion outflow during the May-June 2026 price drop. DWF noted the data cannot distinguish selling sources between institutions and retail investors, and estimates roughly one-fifth of fund flows may be hedging trades—buying ETF shares while shorting via CME futures to earn spreads. Additionally, the report found that since the ETFs’ launch, Bitcoin has seen roughly three 15%+ sell-offs annually, down from about four in 2022-2023 and eight in 2021. Sell-offs have become more gradual, with a median drop of 21.3% versus 19.4% in 2022-2023. This shift is not solely due to ETFs; volatility and sell-off frequency had already started declining before the ETFs launched in 2024.

Short-term Bitcoin holders’ unrealized profit stands at 9.5%, with new capital gradually flowing back, its proportion climbing to 11.2%.

Crypto analyst Axel Adler Jr. noted in a post that as of October 21, the share of funds from new investors in the Bitcoin network has climbed from the year-to-date low of 6.6% on July 5 to 11.2%, a sign that new capital is gradually flowing back, though the inflow remains below the levels that topped 20% in 2024 and 2025. Currently, Bitcoin is trading at roughly $82,300, with short-term holders’ average cost basis at $75,100, translating to an overall unrealized profit of around 9.5%. This cohort has been in profit for 63 straight days since August 20, with the unrealized profit ratio hitting a peak of 16% on October 5. Should the new investor fund share break above 11.5%, it would signal further strengthening of buyer demand; a drop back below 10%, meanwhile, would point to a possible stall in new capital inflows. If Bitcoin falls below $75,100, short-term holders as a whole will flip to losses, and the associated selling pressure may rise accordingly.

Rising risk aversion grips global markets: South Korean stocks dropped over 4%, Bitcoin fell more than 2.7%, and Brent crude oil surged past $111.

Against the backdrop of rising Middle East tensions and mixed tech earnings results, global market risk sentiment has cooled. The Korea Composite Index fell over 4%, SK Hynix dropped more than 5%, and Samsung Electronics declined over 4%; the Nikkei 225 index fell around 2.65%, while the MSCI Asia Pacific index slipped 1.72%, hitting its lowest closing level since the end of July. In U.S. markets, Nasdaq futures fell 1.5% and S&P 500 futures declined 0.8%. In energy markets, Brent crude rose 2% to $111 per barrel. The U.S. State Department ordered non-emergency diplomatic personnel and their families at its Saudi Arabia embassy to evacuate, further stoking concerns over escalating Middle East tensions and disrupted oil supplies. Risk-off sentiment pushed U.S. Treasury prices higher: the 30-year Treasury yield fell 3 basis points to 5.38%, the U.S. dollar dropped 0.5% against the Japanese yen to 157.34. Precious metals also weakened: spot gold fell 1.04% to $4,097 per ounce, and spot silver declined 3.21%, briefly dipping below $56 per ounce. Bitcoin dropped over 2.7% on the day to around $82,200. In tech stocks, Tesla fell 3.3% in after-hours trading after cutting its capital expenditure forecast; Meta rose 2.14% in after-hours trading following an upward revision to its AI-related spending outlook; Lam Research dropped 7.21% in after-hours trading due to weaker-than-expected performance guidance. Market scrutiny of AI investment returns and commercialization prospects continues to intensify, as investors shift focus from capital expenditure size to evaluating actual performance and monetization capabilities.

A crypto whale liquidated a $21.15 million long position in Bitcoin, with the funds redirected to Ethereum.

According to TradingBeats monitoring, a large whale wallet starting with 0x469e completed a major position adjustment this morning: it liquidated 250 BTC long positions, actually selling around $21.15 million; meanwhile, it added 5,219.54 ETH long positions, with total transaction value of about $13.06 million. The average closing price of BTC was approximately $84,599.81, generating a profit of around $568,000; the average entry price for the ETH additions was about $2,502.17. Its ETH long positions increased from 10,000 to around 15,200, a rise of approximately 52.2%. Currently, the position value stands at around $37.075 million, with an average price of $2,601.72, still showing an unrealized loss of about $2.522 million. It is reported that ETH has not yet outperformed BTC; the spot ETH/BTC exchange rate is now around 0.02946, down about 8.28% since the start of this month, and has fallen by around 0.64% since October 15. Although there has been a recent recovery from lows, a sustained uptrend has not yet formed.

Gemini co-founder: Zcash is "the encrypted Bitcoin", ZEC has the potential to surge to $5,000.

Gemini co-founders Cameron Winklevoss and Tyler Winklevoss stated in an interview that Bitcoin is a public, auditable blockchain where anyone can view transaction records, though its transparency makes it ill-suited for privacy-focused use cases. Zcash, by contrast, is designed for private transactions and payments, so the two can coexist. Ideally, privacy would be native to Bitcoin, but the current practical model is "Bitcoin for storage + Zcash for transactions". Bitcoin remains significant, but public blockchains face heightened privacy exposure risks in the era of AI. The Winklevoss brothers added that Zcash fills Bitcoin’s gap in privacy functionality, serving as "encrypted Bitcoin". ZEC’s privacy value has not yet been fully realized; if it reaches 10% of Bitcoin’s market capitalization, ZEC could surge fivefold, easily surpassing $5,000. As such, they are bullish on ZEC’s price performance over the next 5 to 10 years, particularly as demand for privacy rises. "Zcash is a financial privacy tool for the AI era, an antidote to AI-driven surveillance and tyranny. Anyone bullish on AI (or quantum), even if they don’t recognize it, should be bullish on Zcash. It is the AI hedge or quantum hedge in the cryptocurrency space."

Yesterday, U.S. spot Bitcoin ETFs posted a net inflow of $524.8 million, while U.S. spot Ethereum ETFs saw a net inflow of $14.9 million.

According to Farside’s monitoring, U.S. spot Bitcoin ETFs recorded a net inflow of $524.8 million yesterday. Breakdown by product: IBIT saw a net inflow of $235 million, FBTC $212.7 million, BITB $19.2 million, ARKB $9.8 million, EZBC $7.3 million, GBTC $32.6 million, and BTC $8.2 million; all other products had zero net inflow. Separately, U.S. spot Ethereum ETFs posted a net inflow of $14.9 million yesterday. Among them, ETHA had a net outflow of $29.3 million, while FETH logged a net inflow of $13 million, ETHW $0.9 million, EZET $0.9 million, MSSE $1.3 million, and ETH $28.1 million; all other products recorded no net inflow.

Circle CEO: Not particularly focused on Bitcoin’s price, stablecoin regulation may be gradually clarifying.

Circle CEO Jeremy Allaire told CNBC in an interview that he is not particularly focused on Bitcoin’s short-term price performance, instead expressing greater optimism for a digital dollar tailored for payments and the AI agent economy. Allaire noted that the digital dollar can be used for payments, transactions, lending and investments, adding that AI agents will participate in more economic activities in the future, which may further drive demand for the digital dollar and related blockchain infrastructure. However, he did not provide specific data on this demand growth. On the regulatory front, the U.S. Office of the Comptroller of the Currency (OCC) is drafting rules related to the GENIUS Act. The proposal requires stablecoin issuers to hold reserve assets equal to no less than the total value of their circulating stablecoins, redeem stablecoins at face value within two business days, and prohibits issuers from paying interest to holders. Allaire believes the GENIUS Act has bipartisan support and can provide policy safeguards for the stablecoin industry, though broader legislation on the U.S. crypto market structure has yet to make progress.

Glassnode: Bitcoin is in a strong range-bound state, with the market focusing on key catalyst events.

Glassnode released its weekly market report, stating that Bitcoin is constrained within a "trading range" of $80,000 to $87,000. Daily closes once rose above roughly $87,500, and recent ETF inflows paired with expanding trading volume show demand is absorbing supply at the upper end of the range. If Bitcoin breaks below $80,000, both ETF holders and average treasury investors will enter losses, potentially dragging the price down toward the True Market Mean. Below the range, buyers have re-accumulated positions near $80,000 based on ETF and Treasury cost bases (though at a smaller scale than the peak). Above the range, the cost basis for buyers who entered positions 6 to 12 months ago is around $86,700, paired with order book sell walls and liquidation clusters at roughly $85,000 and $87,000. A breakout from this range could accelerate, but will encounter selling pressure. Glassnode noted that investors should focus on upcoming key catalysts, including the Federal Reserve’s October 28 interest rate decision, rising oil prices and yields, and a rebound in inflation expectations. Separately, MSCI will publish its index adjustment list on November 11 (effective November 30), with potential removals of stocks such as Strategy, which could impact related equities and Bitcoin buying demand.

Bitcoin falls below $83,000, down over 2% from its early morning high.

According to HTX market data, Bitcoin has fallen below $83,000, dropping more than 2% from its early morning peak and currently trading at $82,930.

Bitcoin ETFs see $33.88M outflow, Ethereum ETFs hit $384.13M weekly outflow

Oct 21 Update: #Bitcoin ETFs: 1D NetFlow: -403 $BTC(-$33.88M)?? 7D NetFlow: +2,528 $BTC(+$212.31M)?? #Ethereum ETFs: 1D NetFlow: -12,688 $ETH(-$31.42M)?? 7D NetFlow: -155,122 $ETH(-$384.13M)??

Bitcoin breaks through $84,000

According to HTX market data, Bitcoin has broken through $84,000, with a 24-hour gain of 1.29%.

Analysis: Since the second half of October, Bitcoin's returns have been primarily driven by the Asian trading session, while the European session has dragged down its overall performance.

Galaxy Research Head of Research Alex Thorn noted in a post that since the second half of October, Bitcoin’s returns have been primarily driven by the Asian trading session, while the European trading session has weighed on overall performance. The chart he shared shows that as of October 20, with October 1 as the starting point, Bitcoin’s cumulative return during the Asian trading session stood at 3.9%, versus 1.1% for the U.S. trading session and -5.5% for the European trading session. The buy-and-hold return for the same full period was -0.7%.

Bankless co-founder once again bullishly endorses ZEC, predicting that this cycle ZEC will reach 10% of Bitcoin’s market cap.

Bankless co-founder David Hoffman has once again released a bullish piece on ZEC, forecasting that it will hit 10% of Bitcoin's market cap in the current cycle and 25% in the next cycle.

Grayscale launches in-kind subscription service for its ETFs, covering 10 products including Bitcoin, Ethereum, and Hyperliquid.

GrayScale has announced the launch of an in-kind subscription model, enabling investors to submit eligible digital assets directly in exchange for shares of GrayScale’s corresponding investment products. The firm noted that this approach reduces self-custody burdens, may lower transaction execution costs, and facilitates the integration of related investments into standard portfolio management. Currently, the in-kind subscription is available for 10 products, including the Avalanche Staking ETF (GAVA), Bitcoin Mini Trust ETF (BTC), Chainlink Trust ETF (GLNK), Ethereum Staking Mini ETF (ETH), Dogecoin Trust ETF (GDOG), Hyperliquid Staking ETF (HYPG), Solana Staking ETF (GSOL), Sui Staking ETF (GSUI), XRP Trust ETF (GXRP), and Zcash ETF (ZCSH).

Coinbase: Bitcoin has demonstrated resilience amid two rounds of semiconductor stock sell-offs, and is no longer viewed by the market as a leveraged proxy for tech stocks.

Coinbase Institutional stated in a report that chip stocks have posted double-digit declines over the past two weeks, marking the second notable pullback since June, while Bitcoin has proven more resilient during both corrections. The firm noted the market no longer regards Bitcoin as a leveraged proxy for tech stocks. Per its charts, between June 22 and July 29, Bitcoin remained roughly flat, the Nasdaq 100 fell around 10%, the Semiconductor Index (SOX) dropped approximately 29%, and Micron, South Korea’s KOSPI index, and SK Hynix declined roughly 39%, 38%, and 52% respectively. Since October 2, Bitcoin has fallen about 3%, the Nasdaq 100 is down roughly 4%, the SOX has dropped ~14%, while Micron, KOSPI, and SK Hynix have declined approximately 16%, 21%, and 31% respectively.

Well-known trader: Bitcoin could rise to $86,000 in the short term, with a subsequent target of $94,000.

Well-known trader Doctor Profit posted that he believes Bitcoin is in a bull market, projecting it will surge rapidly to $86,000 in the coming hours to days before climbing further to $94,000. He noted the market is not yet prepared for this move.

UK High Court approves appeal by Chinese victims in the Qian Zhimin case over property rights to more than 60,000 Bitcoin.

According to Caixin, just four days after the UK High Court of Justice ruled that the property rights dispute over more than 60,000 bitcoins in the Qian Zhimin case is subject to Chinese law, around 16,000 Chinese victims participating in the UK asset recovery process have been granted the chance to challenge the ruling further. The UK High Court held a fresh hearing, with the judge approving the Chinese victims’ appeal against the October 12 ruling on applicable law. Lawyers from all parties also discussed issues including litigation costs related to the earlier applicable law dispute, whether the approximately 16,000 individual claimants will continue to pursue their claims, and how to opt out of the proceedings.

Analyst: Short-term Bitcoin whales' unrealized profit falls 53%, with over 10,000 BTC transferred to CEX in a single day.

CryptoQuant analyst Axel Adler Jr stated in a post that Bitcoin short-term whales’ unrealized profit dropped 53% from a record $9.8 billion on September 22 to $4.6 billion on October 20, though the whales remain profitable. On the same day, whales transferred 10,605 BTC to centralized exchanges (CEXs), the highest single-day volume since October 8, roughly 2.8 times the 3,815 BTC average daily amount over the past 30 days. The decline in unrealized profit does not indicate reduced holdings, nor do transfers to exchanges equal actual sales, but analysts point out that the increased inflow signals a rising potential sell-off risk.