Bitcoin slid to $79,800, falling 3% amid a weekend sell‑off and rising crude.
Brent crude hit an eight‑month high of $116 over the weekend while the 10‑year U.S. Treasury yield climbed to 5%, tightening risk appetite across markets. According to Vikas Gupta, Country Manager‑India at Bybit, higher oil prices and AI‑sector valuations are weighing on global risk assets, and leveraged liquidations could amplify crypto volatility.
U.S. spot Bitcoin ETFs posted a mixed flow profile: $526.7 million inflows on Oct 19, $524.8 million on Oct 21, followed by a $635.6 million net outflow on Oct 22. BitDelta India cited a $746.2 million outflow from Bitcoin and Ether ETFs combined on Oct 22, yet Mudrex reported net inflows of more than $300 million over the week, indicating that institutional interest remains uneven but alive.
Technical support hovers near $78,500–$79,000, with resistance at $81,400–$81,700. Harish Vatnani, Head of Trade at ZebPay, warned that a break below $78,000 would signal bearish momentum, while Vikram Subburaj, CEO of Giottus.com, flagged a need to reclaim $80,500–$81,000 to prove recovery.
The Fed’s October 27‑28 policy meeting is the key event, with traders eyeing signals on interest‑rate outlook. Upcoming U.S. GDP and PCE data on Oct 29, plus an $11 billion Bitcoin options expiry on Oct 29, will add volatility. Analysts suggest monitoring ETF flows, Fed signals, and support levels before ramping exposure, as sustained liquidity and a rebound in risk appetite could dictate Bitcoin’s next move.