Bitcoin bounced back on Monday to ease worries about a steep market crash after dropping to $80,595 on Sunday afternoon. Even though it moved past the $83,000 resistance threshold, the digital coin failed to hold those increases and dropped to $82,069 by 5:35 a.m. EST. Prices hovered at $81,926 by 1:20 p.m. ET, marking a 1 percent gain for the day with a market capitalization staying above $1.64 trillion.
Liquidations for Bitcoin stayed under $67 million while prices fluctuated narrowly, consisting of nearly $34 million in long positions and just under $33 million in short positions. Ether saw short liquidations hit $73 million alongside $42 million in long positions, while total market liquidations reached $334 million, including $173 million in long positions. This rebound also calmed worries tied to the 39th anniversary of the 1987 Black Monday stock market crash, though the failure to stay above $83,000 leaves October rally prospects uncertain.
ETF Outflows and Glassnode Data Signal Caution
Institutional investment numbers reveal ongoing market caution, as U.S. spot Bitcoin exchange-traded funds posted $228.6 million in net outflows last week after a previous week of $681 million in outflows. Overall crypto ETFs shed about $593 million last week, with Ether funds leading the decline by shedding $320 million. Glassnode reported that heavy selling behind the early October drop has slowed, but new demand has not yet filled the gap left by missing buying pressure.
Glassnode added that spot and ETF buyers are mostly missing, and ETF trading volumes have dropped below their lower range despite smaller net outflows. Traders in options keep purchasing downside protection because implied volatility stays higher than realized volatility, pointing to ongoing risk management against price drops. Onchain figures also show capital moving toward newer participants, while network fees and transfer volumes dropped by about 10 percent and profit-taking slowed down.
