Bitcoin Hovers Near $81,500 as ETF Withdrawals Mount and Oil Prices Rise

Bitcoin traded in a narrow range around $81,500 on Friday after several days of sharp price swings. Asian markets showed signs of stabilization, with South Korea’s Kospi little changed overnight, while Nasdaq 100 futures also remained steady. Crude oil continued to advance, keeping inflation risks in the spotlight.

BTC remained below the average cost basis of U.S. spot Bitcoin exchange-traded funds (ETFs). The cryptocurrency traded slightly above $81,000, compared with the funds’ estimated average purchase price of $82,313. This measure tracks the average price at which Bitcoin has entered the ETFs.

Bitcoin ETFs Record $635 Million in Outflows

U.S. spot Bitcoin ETFs saw $635 million leave the funds on Thursday, according to Farside Investors. The withdrawals marked the largest single-day outflow since June 25, as investors reacted to a broad market sell-off.

Some market participants may view the exodus as a potential clearing of speculative positions that could set the stage for a recovery. However, historical performance following large ETF withdrawals offers a more cautious signal.

Farside data shows that on 22 previous occasions when daily outflows topped $300 million, Bitcoin tended to trade considerably lower over the following 7, 30 and 90 days.

That record comes with limitations. The ETFs have operated for less than three years, leaving a relatively small sample of past events. Results may also be skewed by the bear market that began in October 2025, meaning the historical trend cannot reliably predict what happens next.

BTC Finds Temporary Stability Below $82,500

Bitcoin fell toward $81,000 late Thursday before settling into a trading range of less than $1,000. By early Friday, it was changing hands near $81,500, marking a quieter period after a week of price fluctuations of around $3,000.

The cryptocurrency was down 0.4% over 24 hours and remained below $82,500, a level that had acted as support before being breached on Thursday.

Altcoin movements were mixed. BNB gained nearly 2% to approximately $745, while Dogecoin (DOGE) added around 1%. Monero (XMR) dropped 7% to roughly $607, surrendering some of its previous gains, while Zcash (ZEC) declined almost 4% to about $1,200.

HYPE, XRP, Ether and Solana (SOL) each fell by roughly 1% or less. Ether traded just below $2,400, according to CoinDesk data.

Oil Rally Adds Pressure Ahead of Fed Meeting

U.S. equity futures showed signs of stabilizing after Thursday’s technology-led decline. Nasdaq 100 futures were little changed following the index’s steepest daily fall since June, while a semiconductor-focused ETF edged higher before the market opened.

Meta shares continued to decline, while SpaceX advanced following reports that the company is considering becoming a wireless carrier.

Oil prices remained a key risk for markets. Brent crude climbed to its highest level since early May, complicating the inflation outlook ahead of the Federal Reserve’s Oct. 27–28 meeting.

Treasury bonds also gave back some of Thursday’s gains, when demand for safe-haven assets pushed the 10-year Treasury yield down by its largest amount in more than a year. Gold and the U.S. dollar traded broadly flat as investors weighed the outlook for inflation and monetary policy.