Bitcoin traded near $80,800, recording gains between 1% and 1.6% over the last 24 hours. The leading cryptocurrency moved within a range of $79,416 to $81,159 during the same period, while trading volume reached approximately $23.5 billion and market capitalization remained above $1.62 trillion. Despite the modest rally, Bitcoin failed to reclaim the $82,000 mark.
Spot Bitcoin ETFs notch fresh inflows
U.S. spot Bitcoin exchange-traded funds (ETFs) brought in $176 million on Tuesday, according to data from SoSoValue. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the majority of this activity, attracting $151.5 million in a single day.
Adding to that, spot Bitcoin ETFs recorded inflows of $110 million on Monday, resulting in a two-day total of $286 million. These new investments follow notable outflows last week, when the funds saw net withdrawals of $774 million across Thursday and Friday.
For October, the net outflows from Bitcoin ETFs have now narrowed to about $26 million, while total year-to-date net inflows have climbed to roughly $850 million. In contrast, U.S. spot Ether ETFs logged net outflows of $149 million over Monday and Tuesday, pushing their October outflows to $1.32 billion.
On-chain data from blockchain analytics firm Santiment showed net BTC outflows of about 14,942 coins from exchanges, marking the largest single-day exchange withdrawal in five weeks. Santiment suggested these outflows could indicate reduced sell pressure ahead of the U.S. Federal Reserve’s upcoming rate policy announcement, although such exchange movements may also reflect asset custody transfers rather than market sentiment shifts.
Mini dictionary: Santiment is a blockchain analytics platform that provides on-chain, social, and development insights for various cryptocurrencies, helping traders and researchers monitor asset flows, sentiment, and network activity.
During the same period, the Crypto Fear & Greed Index rose from 48 to 51, remaining in “Neutral” territory after reading 63 (“Greed”) a week earlier.
| Metric | Bitcoin | Ether |
|---|---|---|
| ETF Net Inflows (Mon-Tue) | $286 million | -$149 million |
| October Net Flows | -$26 million | -$1.32 billion |
| Year-to-date Net Flows | $850 million | Not specified |
Markets await Fed decision and monitor support levels
Investors are focused on the Federal Reserve’s scheduled interest rate decision. Markets widely expect the Fed to maintain its target range at 3.75% to 4.00%, following a quarter-point hike in September. Attention will be on Chair Kevin Warsh’s remarks, particularly on inflation and future policy direction.
Amid rising geopolitical tension, a Wall Street Journal article reported that U.S. officials warned Gulf nations that a brief military operation against Iran was possible after the November 3 midterm elections. The report has sparked market concerns about potential impacts on oil prices and inflation, though no action has been officially announced.
Julio Moreno, Head of Research at blockchain data provider CryptoQuant, stated that spot demand for Bitcoin has continued to decline in October, with the company’s Bull Score Index dropping from 90 to 60 in recent sessions. Moreno also identified several technical levels as potential support if prices fall further: the 365-day moving average at $77,585, the trader realized price at $74,041, and the 200-day moving average at $73,028.
On a technical basis, Bitcoin sits below its nine-day and 21-day moving averages, set at $81,416 and $81,905, respectively. The Relative Strength Index is at 45.52, slightly below the neutral 50 level, suggesting subdued momentum. Analyst Rekt Capital pointed to $81,400 as a critical three-day closing target, stating that a reclaim could pave the way for tests of $82,000 to $82,500, with main support at $80,000, followed by $78,000 and $76,000.
Looking at historical patterns, analyst Ali Martinez shared data showing Bitcoin registered negative fourth-quarter returns in the last three U.S. midterm years: 2014 (-16.70%), 2018 (-42.16%), and 2022 (-14.75%).
Rekt Capital added that holding above $81,400 is important in the coming days as bulls attempt to push the price toward higher ranges, while caution remains due to macro factors and ETF flows.
