- Bitcoin rebounds to $82K but faces a second weekly loss.
- ETF outflows and rate hike fears weigh on prices.
Bitcoin climbed back above $82,000 on Friday as falling U.S. Treasury yields and oil prices lifted sentiment across crypto markets. However, BTC remained on track for a second consecutive week of losses as ETF outflows, inflation concerns, and pressure on technology stocks weighed on prices.
Bitcoin Price Rebounds After Falling Below $80,000
Bitcoin rose 1.9% to $82,130.10 after briefly slipping below $80,000 during the previous session. The recovery followed renewed buying from investors looking to take advantage of lower prices.
The broader cryptocurrency market also moved higher as U.S. Treasury yields declined for a second straight day. Lower yields helped support demand for risk-sensitive assets, including cryptocurrencies.
Despite the rebound, Bitcoin remained down approximately 0.9% for the week. The latest decline puts BTC on track for its second consecutive weekly loss, showing that Friday’s gains have yet to reverse the broader downward trend.
Bitcoin ETF Outflows Add to Selling Pressure
Bitcoin has faced several headwinds in October, including rising Treasury yields, higher oil prices, and renewed outflows from spot Bitcoin exchange-traded funds (ETFs).
Data from SoSoValue showed that spot Bitcoin ETFs recorded approximately $146.2 million in net outflows so far this week. The funds were also heading toward a second consecutive week of withdrawals, adding to concerns about institutional demand.
Profit-taking has also weighed on Bitcoin after its strong gains in the second quarter. As prices came under pressure, some investors appeared to reduce their exposure rather than hold through the latest market weakness.
Meanwhile, the traditional market sell-off extended into cryptocurrencies. Technology and artificial intelligence stocks faced heavy selling as investors assessed the possibility of higher U.S. interest rates.
Fed Rate Hike Fears Continue to Pressure Crypto
Concerns about another Federal Reserve rate hike have added to uncertainty across financial markets. Hotter-than-expected inflation data for September strengthened expectations that the central bank could raise interest rates again this year.
Higher interest rates can weigh on cryptocurrencies by making safer, yield-generating assets more attractive relative to speculative investments. They can also tighten financial conditions, reducing investors’ willingness to take risks.
Although Treasury yields declined during the week, markets continued to price in the possibility of another rate increase. This leaves Bitcoin vulnerable to further volatility if inflation remains elevated or expectations for monetary policy become more hawkish.
The combination of macroeconomic uncertainty and ETF outflows has also weakened expectations for October, a month historically associated with strong Bitcoin performance.
Altcoins Recover as Ether, XRP, and Solana Rise
Other major cryptocurrencies joined Bitcoin’s recovery on Friday, although most remained on track for weekly losses. Ether rose 3.6% to $2,442.72 but was still down nearly 2.6% for the week. XRP gained 2.3%, while Solana advanced 3.6% and Cardano climbed 4.3%.
Despite these daily gains, XRP, Solana, and Cardano remained down between 3.8% and 8% for the week. BNB also rose 1.7%, while Dogecoin and the TRUMP token gained 3.4% and 4.3%, respectively.
The broad recovery suggests that buyers returned to the market after recent declines. However, the weekly losses across major cryptocurrencies indicate that selling pressure has not fully eased.
Bitcoin Faces a Difficult October
Bitcoin has lost more than 2% in October so far, putting the traditional Uptober rally out of reach for a second consecutive year, based on the reported performance.
The latest rebound offers some relief after BTC briefly fell below $80,000. However, continued ETF outflows, concerns about interest rates, and weakness in technology stocks remain key challenges for the market.
Bitcoin’s next moves will likely depend on whether buying demand strengthens enough to offset these pressures. Until then, the recovery above $82,000 may offer only temporary relief from a broader period of market uncertainty.
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