Bitcoin climbs to $83,800 as sentiment improves and ETF outflows persist

Bitcoin rose 1.06% over 24 hours to $83,776, and the Crypto Fear & Greed Index jumped to 69 from 61, its highest reading since 7 October. The gains came as fund flows stayed weak: Decrypt reports that US spot Bitcoin ETFs have posted $386.3 million in net outflows so far in October.

All figures below come from a CoinGecko snapshot taken at 00:31 UTC on 12 October. Changes are rolling 24-hour and 7-day windows.

Bitcoin

Bitcoin traded in a 24-hour range of $82,735 to $84,072, ending near the top of it. The weekly picture is still negative, with the coin down 3.16% over seven days. Volume was $15.4 billion and market capitalization stood at $1,683.8 billion. Chart: BTC/USD on TradingView.

Ether and the majors

Ether gained 1.46% to $2,538.92, inside a range of $2,495.93 to $2,551.39. Every large cap rose on the day, but all remain lower on the week. Dogecoin has lost the most over seven days, down 10%, followed by Solana at 8.55%.

Market breadth and sentiment

CoinGecko puts total crypto market capitalization at $2.818 trillion. Bitcoin dominance is 59.6% and Ether's share is 11%.

The Fear & Greed Index reads 69, labelled Greed. It has stayed in Greed territory for the past eight days, but the path has been uneven. The index fell from 73 on 6 October to 59 on 9 October, then recovered to 64, dipped to 61 on 11 October and now stands at 69.

News drivers

ETF outflows extend into October

Decrypt reports that Bitcoin, Ethereum and Solana ETFs are all in the red for October. Bitcoin funds have lost $386.3 million in net outflows through the first seven trading days, while Ethereum funds have posted nine straight days of outflows.

Ledger case reaches Europe

Our last recap covered Ledger's confirmation of an unauthorized hardware implant. There is a new development. According to Cointelegraph's Hodler's Digest, a user reports buying a tampered Ledger device from a large retailer in Europe. Ledger had earlier said the incident appeared isolated to a single reseller in Southeast Asia. Separately, Cointelegraph reports that hardware wallet maker Coldcard is investigating how a phishing link appeared on its X account and has told users not to interact with it.

Strategy hints at more buying

Cointelegraph reports that Michael Saylor teased Bitcoin buying by Strategy after the company ended September with STRC buybacks. Investors will wait an extra day to learn if and how much Strategy added in the first week of October.

Geopolitics and policy

CoinDesk reports that President Trump declared an "energy ceasefire" between Russia and Ukraine. Ukrainian President Zelensky said Ukraine supports it and that it is important Russia does too.

On policy, CoinDesk notes that the US Supreme Court has not yet said whether it will hear prediction market cases, though several amicus briefs, an interim final rule and a rule proposal are now in play. An IMF analysis, reported by Decrypt, found that more than half of tokenized stock trading happens outside US market hours, but the roughly $2.3 billion market remains more volatile and less liquid than traditional equities.

What to watch next

• Strategy's disclosure: whether the company reports Bitcoin purchases for early October, per Cointelegraph.
• ETF flows: whether the October outflow streaks in Bitcoin and Ethereum funds continue, per Decrypt.
• Ledger: any update on how far the tampered-device issue has spread beyond Southeast Asia.
• Russia's response to the declared energy ceasefire, per CoinDesk.
• Zcash: Decrypt reports that developer Zakura is rolling out a privacy tool for rotating transparent addresses this week and expects hash-based signatures to land in January.
• Supreme Court: whether it agrees to take up prediction market cases.