Bitcoin maintained its position above $81,000 on Saturday, October 17, as investors weighed fluctuating U.S. spot Bitcoin ETF flows, institutional demand concerns, and expectations of further Federal Reserve interest rate hikes.
The world's largest cryptocurrency climbed 0.6% to $81,544.8 as of 19:00 GMT, recovering from a volatile trading week that briefly pushed prices below the crucial $80,000 support level.
Earlier in the week, Bitcoin surged past $84,000 but failed to sustain its momentum. Stronger U.S. economic indicators and expectations of tighter monetary policy continued to weigh on cryptocurrency market sentiment.
Institutional investment activity remained inconsistent, with U.S. spot Bitcoin ETFs recording $82.39 million in net outflows on October 16, according to Coinfomania. BlackRock's iShares Bitcoin Trust (IBIT) accounted for $71.78 million of those withdrawals, reflecting investor redemptions rather than direct Bitcoin sales by BlackRock.
ETF flows fluctuated significantly throughout the week. On October 12, Bitcoin investment funds experienced $65.4 million in withdrawals, entirely from IBIT.
However, sentiment improved on October 13, when spot Bitcoin ETFs attracted $175.7 million in fresh capital. Fidelity's Wise Origin Bitcoin Fund led inflows with $103.1 million, followed by IBIT at $65.9 million.
The recovery proved temporary as October 14 brought approximately $261.4 million in outflows, reinforcing concerns about weakening institutional Bitcoin demand.
Ethereum investment products also faced selling pressure, registering $69.68 million in withdrawals on October 16.
Meanwhile, stablecoin issuer Circle Internet Group reported approximately $1.4 billion in first-half 2026 revenue. The company disclosed $819 million in distribution and transaction expenses alongside $473 million invested in infrastructure, compliance, and product development.
Circle also reported that USDC facilitated more than $36 trillion in onchain transactions, representing approximately 77% of global stablecoin transaction volume in June. Its third-quarter earnings announcement is scheduled for November 4.
Across the broader cryptocurrency market, Ethereum gained 0.5% to $2,417.92, while XRP advanced 0.3% to $1.30. Solana increased 1%, although BNB and Cardano recorded modest declines.
Dogecoin edged 0.2% higher, while the TRUMP meme coin slipped 1.2%.
Looking ahead, Bitcoin traders are closely monitoring the $80,000 support level. Renewed Bitcoin ETF inflows could strengthen momentum toward $83,000, while continued institutional withdrawals and hawkish Federal Reserve expectations may trigger additional selling pressure.
