Bitcoin holds near $81,700 as ETF outflows and Tether probe weigh
Bitcoin traded at $81,701, down 2.03% in 24 hours, as spot ETFs saw $484.9 million in outflows and Cardano led large-cap losses with a 9.5% drop.
Live chart · BTCUSD, ETHUSD, ADAUSDT, SOLUSDT · TradingView
Bitcoin steadied near $81,700 after its slide toward three-week lows, but the wider market kept falling as spot Bitcoin ETFs posted their largest one-day outflow since June. Altcoins took the bigger hit, with total crypto market capitalisation down 5.16% in 24 hours, according to CoinGecko data at 01:12 UTC on October 9.
Bitcoin
Bitcoin traded at $81,701, down 2.03% over 24 hours and 3.6% over seven days. Its 24-hour range ran from $80,427 to $83,228. That is slightly above the $81,270 level in our previous recap, so the low near $80,400 has held for now. Daily volume was $42.6 billion. Chart: BTC/USD on TradingView.
The new pressure came from funds. Decrypt reports that investors pulled $484.9 million from spot Bitcoin ETFs in a single day, the worst loss since June. Decrypt ties the selling to oil near $100, bond yields at their highest since 2002 and a Federal Reserve that is not done hiking. Our sister site FXCash covered how Fed minutes pointing to another hike lifted the dollar.
Ether and the majors
Ether fell 4.17% to $2,474.07 and is down 8.42% on the week. Cardano was the weakest large cap, dropping 9.54%, which erased much of its strong run earlier in the month. Solana lost 6.51%.
| Coin | Price (USD) | 24h % | 7d % |
|---|---|---|---|
| Bitcoin | 81,701 | -2.03 | -3.60 |
| Ether | 2,474.07 | -4.17 | -8.42 |
| BNB | 734.36 | -5.23 | -4.70 |
| XRP | 1.39 | -2.73 | -7.09 |
| Solana | 109.06 | -6.51 | -7.63 |
| Dogecoin | 0.08422 | -5.87 | -10.67 |
| Cardano | 0.2326 | -9.54 | -5.54 |
Breadth and sentiment
Total market capitalisation stood at $2.776 trillion. Bitcoin dominance was 59.1% and Ether dominance 10.9%, as Bitcoin held up better than the rest of the market.
The Crypto Fear & Greed Index fell to 59 from 64 a day earlier. It still reads "Greed", but it has dropped for three straight days from a peak of 73 on October 6.
News drivers
- Tether probe. CoinDesk reports that Senator Richard Blumenthal is investigating ties between Cantor Fitzgerald and Tether. Cointelegraph says the letter follows a Democratic report last month alleging USDT has become a key tool for Iran's shadow banking network.
- Flash crash anniversary. CoinDesk notes the market is weakening as October 10 approaches, one year after Bitcoin plunged from about $122,000 to $105,000, much of it within minutes.
- EU stablecoin rules. According to CoinDesk, ESMA gave authorised platforms three months to block new access to stablecoins that fail MiCA rules.
- Tokenization. Cointelegraph reports Securitize stock jumped over 10% after it launched tokenized shares of 12 US companies on Solana. CoinDesk says the Cardano Foundation spun out Veridian, the first company to use Cardano's new programmable-token standard for its equity.
- Old coins move. Decrypt reports that 100.02 BTC mined in July 2010 moved for the first time in 16 years, worth about $8.3 million.
What to watch next
- October 10 anniversary. CoinDesk flags the date of last year's flash crash as a focus for traders.
- ETF flows. Whether outflows continue after the $484.9 million day reported by Decrypt.
- US government wallets. CoinDesk reported that 12,267 seized BTC went to unlabeled wallets, with no sign of a sale.
- Prediction markets. Decrypt reports the NFL urged the Supreme Court to settle whether states can regulate sports contracts on platforms like Kalshi.
- Tether scrutiny. Any follow-up to the Senate inquiry into Cantor Fitzgerald.
CryptoClick Desk
How we make this article: software gathers the market data and the news from the sources linked in the article, then cross-checks them. AI writes the text. People choose the sources, set the rules and run the process. Not investment advice.