Crypto market today: Bitcoin flat near $81,500 as oil spike and ETF outflows weigh
Bitcoin was roughly flat over the last 24 hours, down 0.06% at $81,544.90, while 166 of 284 tracked coins rose. Several news reports describe Bitcoin sliding toward $81,000 as oil prices climbed and U.S. stocks turned lower. The most likely reasons are higher energy prices, renewed rate-hike worries, and steady outflows from spot Bitcoin ETFs.
What moved the market
- Oil prices above $110 revived bets that central banks may raise interest rates, which can weigh on risk assets like bitcoin.
- Spot Bitcoin ETFs saw $635.6 million leave on Thursday, pushing October's net flows back to a loss of about $176 million.
- Bitcoin open interest fell 3.14% over 24 hours, suggesting fewer open positions, while 8-hour funding stayed slightly positive at 0.0099%.
- Fear & Greed Index is at 50 (Neutral), down from 68 yesterday, showing sentiment has cooled but is not in fear territory.
What to watch next
Traders may watch whether Bitcoin holds support at $80,072 and $78,760, since a break below could extend the drop. A move back above resistance at $83,513, and then $85,642, would suggest buyers are regaining control.
Bitcoin levels to watch today
Classic daily pivot levels for BTC, calculated from the last completed daily candle.
