Bitcoin price holds above $81,000 as ETF outflows weigh on sentiment

Bitcoin has maintained a price above $81,000 on Saturday, as market participants evaluated mixed U.S. spot Bitcoin ETF flows and lingering doubts about institutional demand. The world's leading cryptocurrency was trading down 0.73% at $81,558.1 as of 01:49 ET (05:49 GMT) following a week marked by frequent price swings. Bitcoin had peaked at over $84,000 earlier this week, but was unable to sustain those highs as stronger U.S. economic data and anticipated Federal Reserve interest rate hikes weighed on sentiment.

U.S. spot Bitcoin ETFs recorded $82.39 million in net outflows on October 16, with BlackRock's iShares Bitcoin Trust accounting for $71.78 million. The outflows signaled investor withdrawals, not BlackRock's strategic reduction of its Bitcoin stake. On October 12, spot Bitcoin funds experienced $65.4 million in net withdrawals, all from IBIT.

The following day, inflows of $175.7 million came from Fidelity’s Wise Origin Bitcoin Fund and IBIT. Subsequent outflows on October 14, totalling around $261.4 million, underscored the ongoing uncertainty surrounding institutional interest. These mixed flows have coincided with significant price volatility, prompting investors to watch whether Bitcoin can hold above $80,000.

Meanwhile, Ethereum investment products also faced headwinds, with $69.68 million in outflows on October 16. Circle Internet Group, a stablecoin issuer (NYSE), reported roughly $1.4 billion in revenue for the first half of 2026, spending $819 million on distribution partners and transaction fees while reinvesting about $473 million in infrastructure, compliance, and product development.

USDC processed over $36 trillion in on-chain transactions and represented about 77% of global stablecoin transaction volume in June. Circle is set to release third-quarter earnings on November 4. Bitcoin traders are now observing whether renewed ETF demand can help it recover towards $83,000, while additional outflows could intensify pressure on the $80,000 level.

Other major crypto prices were mostly lower early Saturday, according to the latest market data. Ether dropped 0.79% to $2,428.20, XRP declined 2.10% to $1.3103, Solana fell 1.04% to $104.86, BNB decreased 1.18% to $722.14, Cardano slipped 2.52% to $0.2243, and Dogecoin lost 2.25%. Among meme coins, TRUMP maintained a flat position, while Shiba Inu continued its downward trend by 0.97%.