Bitcoin held steady above $81,000 on Saturday, as investors reacted to fluctuating U.S. spot Bitcoin ETF flows and lingering concerns about institutional demand. The largest cryptocurrency was down 0.73% at $81,558.1 as of 01:49 ET (05:49 GMT), following a volatile week that saw prices dip below $80,000 before rebounding. Earlier in the week, Bitcoin peaked above $84,000 but failed to maintain those gains amid stronger U.S. economic data and expectations of further Federal Reserve interest rate hikes.
U.S. spot Bitcoin ETFs experienced $82.39 million in net outflows on October 16, with BlackRock’s iShares Bitcoin Trust (IBIT) accounting for $71.78 million. The withdrawals reflected investor redemptions rather than a strategic move by BlackRock. ETF activity was inconsistent throughout the week, with $65.4 million in withdrawals on October 12, followed by $175.7 million in inflows on October 13, and another $261.4 million in withdrawals on October 14.
The mixed ETF flows coincided with sharp price swings, leaving investors uncertain about Bitcoin’s ability to sustain support above $80,000. Meanwhile, crypto investment products also faced pressure, recording $69.68 million in outflows on October 16. Stablecoin issuer Circle Internet Group reported $1.4 billion in revenue for the first half of 2026, with significant spending on distribution partners and infrastructure.
Broader crypto markets saw declines early Saturday, with Ether falling 0.79% to $2,428.20, XRP dropping 2.10% to $1.3103, and other major altcoins like Solana, BNB, Cardano, and Dogecoin also retreating. Traders are now watching for renewed ETF demand to support a potential recovery toward $83,000, while further withdrawals could increase downward pressure on the $80,000 level.