Bitcoin Price Rebounds Above $82K After $729M ETF Exodus: Is the Sell-Off Over?
Share
Key Takeaways
Bitcoin recovered above $82,000 after slipping below $81,000, but buyers have yet to establish a sustained recovery.
US spot Bitcoin ETFs lost $729 million across Oct. 7 and 8, with Fidelity and BlackRock among the biggest contributors.
Analyst Rekt Capital identifies $82,500 as a critical level, while QCP Capital sees Bitcoin trading between $80,000 and $90,000 in its base-case fourth-quarter outlook.
Bitcoin (BTC) rebounded above $82,000 on Oct. 9 after falling below $81,000 during the latest cryptocurrency market sell-off.
The recovery comes as institutional investors withdraw money from US spot Bitcoin exchange-traded funds (ETFs), while higher Treasury yields and uncertainty surrounding Federal Reserve policy weigh on risk appetite.
BREAKING: Bitcoin falls below $81,000 as over $400 million worth of levered longs are liquidated in 60 minutes. pic.twitter.com/PruP57sT0u
Bitcoin was trading near $82,600 during early Asian trading on Friday, although the recovery has yet to erase the week’s losses.
The question now is whether Bitcoin can reclaim its previous support levels or whether the rebound offers only temporary relief.
Try Our Recommended Crypto Exchanges
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
According toFarside Investors, US spot Bitcoin ETFs recorded $484.9 million in net withdrawals on Oct. 7, followed by another $244.1 million on Oct. 8.
Fidelity’s FBTC led Thursday’s withdrawals at $197.1 million, after BlackRock’s IBIT lost $207.7 million the previous day.
$485M left Bitcoin ETFs in a single day.
That's the biggest outflow since June 25. BlackRock's IBIT alone lost $207.7M, and all of October's inflows are now wiped out. pic.twitter.com/W3A2KqCIw3
The consecutive outflows suggest institutional buying has weakened following Bitcoin’s recent rally above $87,000.
Meanwhile, rising oil prices, higher Treasury yields and a stronger US dollar have made conditions more difficult for risk assets.
Forced liquidations have also amplified the decline, with roughly $1 billion in leveraged crypto positions reportedly wiped out during the sell-off.
Bitcoin Price Prediction: Rekt Capital Flags $82,500
Popular Bitcoin analyst Rekt Capital identified $82,530 as an important level in his Oct. 5 market analysis.
Can BTC reclaim its old floor? | Source: rektcapital
He explained that Bitcoin had previously broken above this resistance before attempting to establish it as support.
However, repeated failures near $86,700 have left Bitcoin vulnerable to further retests of the $82,500 area.
His analysis suggests reclaiming that level would improve Bitcoin’s technical position, while continued weakness could delay a recovery toward $86,700.
Can Bitcoin Recover to $90K or Fall Below $80K?
Institutional trading firm QCP Capital has identified $87,400 as a key resistance level for Bitcoin, with a sustained breakout potentially opening the door to $90,000.
In its market analysis, QCP highlighted significant options activity around the $90,000 strike, including more than $346 million in October call options sold as traders shifted exposure toward November.
The firm previously identified $82,500 as an important support level, which Bitcoin has since breached as it declined below $81,000.
Although BTC has recovered above $82,000, reclaiming $82,500 could be an early sign of improving momentum. A move beyond $87,400 would strengthen the case for further gains toward $90,000.
If buyers fail to defend the latest rebound, another decline toward $80,000 remains possible, particularly if ETF withdrawals continue and broader market conditions deteriorate.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Dr. Guneet Kaur is a senior editor at CCN.com and a Science Fellow at Exponential Science. She is a fintech and blockchain expert with extensive experience in digital finance education, blockchain ecosystems, and cryptocurrency markets. She has worked with global media such as Cointelegraph, as well as education and blockchain platforms, to design and lead strategic content and learning initiatives. As an educator and assessor for top-tier executive programs, she bridges real-world fintech trends with academic insight.
Dr. Kaur is also a published researcher and peer reviewer across fintech and data science journals, including Financial Innovation Journal and International Journal of Big Data Intelligence and Applications. Her work spans data-driven analysis, Web3 innovation, and technical content development. With a strong foundation in both industry and academia, she translates complex financial technologies into practical applications, empowering learners, professionals, and institutions across the rapidly evolving digital finance landscape.
