Bitcoin dropped below $80,000 in the last 24 hours, reaching a low of $79,332 before recovering to $80,240. The asset is currently trading 36% below its all-time high of $126,080, with a weekly decline of 2.5%.
Spot Bitcoin ETFs recorded net outflows of $635.5 million on Thursday and $137.9 million on Friday. Despite these recent figures, the funds concluded the week with a net gain of $301 million, though they remain down by approximately $314 million for the month of October.
Market analysts attribute the downward pressure to a correction in global risk assets and skepticism regarding the valuations of AI-related technology stocks. Factors such as persistent inflation, rising Treasury yields, and anticipation of the Federal Reserve's upcoming interest rate decision have further impacted investor sentiment.
Experts note that trading volumes are declining as investors shift capital into stablecoins. While $80,000 serves as a psychological threshold, analysts suggest that $75,000 is a critical support level to monitor. Future price stability remains contingent on institutional demand and macroeconomic developments.
