Bitcoin Holds $83,000 Into the Weekend as ETF Outflows Clash With Wall Street Buying
Bitcoin traded in a narrow range between $82,800 and $83,300 on Saturday, October 10, with a 24-hour range of $82,229 to $83,315 and a market capitalization of about $1.66 trillion. CryptoQuant analyst Darkfost noted the price is hovering just above the roughly $80,500 "average holder cost basis" — the weighted average purchase price of all bitcoin in circulation — leaving the market as a whole near break-even.
Fund flows told a split story this week. U.S. spot bitcoin ETFs saw combined net outflows of about $730 million on October 7-8, with October 7's $484.9 million marking the largest single-day outflow since June 25. October is now net negative by roughly $410 million. On-chain data showed investors realized $1.03 billion in profits in a single day, the second-largest profit-taking event of 2026, per Santiment.
Yet Wall Street giants kept buying the dip: Fidelity's FBTC fund purchased $354.1 million of bitcoin over the past 20 trading days, along with $66.6 million of Ethereum and $18.2 million of Solana. Morgan Stanley's MSBT fund added about 92 coins this week, lifting its holdings to 10,639 BTC worth roughly $880 million.
Macro headwinds persist: the 10-year Treasury yield is pushing toward 5.5%, the dollar is strong, and oil remains above $100 a barrel, all weighing on risk assets. Coinbase Institutional strategist Colin Basco said a move in the 10-year toward 5.5% would extend bitcoin's consolidation, though a pullback toward $72,000 would be a buying opportunity.
The next catalysts are the October 14 CPI report and the October 28 FOMC meeting. Bulls argue that a weekly close above $82,700 keeps buyers in control with $87,000-$88,000 in sight; bears are betting continued ETF outflows and rate-hike expectations drag prices back below $80,000.
Published by GSM · USA (original Chinese edition)
Photo: Satheeshsankaran，CC BY 2.0（Wikimedia Commons）
