Bitcoin Rebounds; Yields and ETF Flows in Focus

Bitcoin strengthened back to the US$82,500–83,000 range during Friday's trading (Oct 9), having previously dipped to around US$80,400—its lowest level in nearly three weeks. The recovery followed US President Donald Trump's statement that the United States would not launch an attack on Iran prior to the November midterm elections. This statement helped ease geopolitical concerns, pushed down oil prices, and provided some breathing room for risk assets to recover.

Nevertheless, Bitcoin remains on track to record a weekly decline following a three-week rally. Pressure on the cryptocurrency stems from high Treasury yields and uncertainty regarding the Federal Reserve's policy direction. High yields make risk assets like crypto less attractive, as investors have access to higher-yielding alternatives. Additionally, profit-taking following gains throughout the third quarter has capped Bitcoin's momentum.

Fund flows into Bitcoin investment products are also drawing attention. US spot Bitcoin ETFs recorded significant outflows—including approximately US$484.9 million on October 7 and US$244.1 million on October 8—bringing the total outflow over two sessions to nearly US$730 million. This indicates that institutional demand for Bitcoin is facing pressure amidst a less favorable macroeconomic environment. Meanwhile, buying activity has not been sufficient to fully offset market selling pressure.

Negative price action was also observed among major altcoins. Ethereum hovered around US$2,500, recording a weekly decline of approximately 9%, while XRP, BNB, Solana, and Cardano faced even greater downward pressure than Bitcoin. These conditions suggest that investors are becoming more selective following the earlier rally, with altcoins proving more vulnerable to profit-taking and shifts in risk sentiment.

Newsmaker Analysis:

Bitcoin’s rebound above US$82,000 signals emerging buying interest following earlier sharp pressure, though the recovery has not yet fully altered the short-term trend. Easing US-Iran conflict risks and falling oil prices have provided positive catalysts, yet pressure from Treasury yields and ETF outflows remain significant headwinds. Until Bitcoin regains momentum and institutional fund flows become consistently positive, volatility is likely to remain high. Movements in US yields, Federal Reserve policy, oil prices, and ETF flow trends will be critical factors in determining whether the Bitcoin rebound can be sustained or if the asset will face renewed selling pressure.

Source: Newsmaker.id