Bitcoin holds near $81,100 support as Bitfire Research flags ETF outflows

Key points

• Bitcoin traded near $81,392 on 20 October, within an intraday range of $81,155 to $82,667.
• Bitfire Research cited about $228m in weekly net outflows from US spot Bitcoin ETFs and a negative Coinbase premium.
• The firm put resistance at $82,500 and $83,300, with critical support around $79,800.

Bitcoin is clinging to the $81,100 support level, trading near $81,392 on 20 October as sellers keep the upper hand on shorter timeframes. The price sat near the bottom of its $81,155 to $82,667 intraday range, and the immediate question is whether buyers can hold the floor or allow a retreat towards $80,000, Bitcoin.com News reports.

On the hourly chart, Bitcoin made a lower high at $83,062 and has struggled around $81,450 since, with thin volume suggesting fading participation. The four-hour structure is neutral to bearish after repeated failures near $82,500 to $83,000, while the daily chart shows consolidation below the previous $87,374 high. Oscillators lean towards sellers, with momentum and MACD both negative, though longer moving averages remain bullish.

In a note shared with Bitcoin.com News, Bitfire Research said macroeconomic pressure is complicating any recovery.

What to watch: The Federal Reserve's policy decision on 28 October is the next scheduled event the article identifies.

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