Bitcoin and other major cryptocurrencies came under renewed pressure in October, with Bitcoin trading around $83,000 after a sharp retreat from last week’s high. The decline has coincided with continued outflows from U.S. spot exchange-traded funds, higher Treasury yields and a broader retreat across altcoins.
According to Decrypt, Bitcoin reached nearly $87,000 early last week before falling to about $81,000 on Monday, representing a decline of roughly 7% from the recent peak. It later recovered modestly, but remained down 3.2% over the seven-day period cited in the report.
The weakness was more severe among alternative cryptocurrencies. Over the same seven-day period, Solana fell 11%, Hyperliquid’s HYPE token dropped 12%, Dogecoin declined 12%, XRP lost 10% and Ethereum slipped 8%. Only four of the 100 largest cryptocurrencies were trading in positive territory in the market snapshot described by Decrypt.
Market sentiment also deteriorated. The Crypto Fear & Greed Index fell to 56, a neutral reading, from 67 a week earlier. It was also well below the year’s August peak of 82. Prediction-market pricing reflected the more cautious mood: the probability assigned to Bitcoin reaching $87,500 during October fell from 55% to 45%, while the probability of a decline to $80,000 rose to 56%.
ETF withdrawals deepen
The flow of money into regulated crypto investment products has become a major pressure point. Spot Bitcoin exchange-traded funds recorded approximately $680 million in outflows last week and another $65 million in withdrawals on Monday, according to the source material. Their net outflow for October stood at $451 million.
Ethereum funds have performed worse over the month, with net outflows of $720 million. On Monday alone, Ethereum ETFs saw $85 million leave the products.
ETFs allow investors to gain exposure to an underlying asset through a listed fund rather than holding the asset directly. Persistent withdrawals can signal reduced institutional demand or force funds to sell or reduce their underlying exposure, although the figures alone do not establish why investors are withdrawing money.
The latest moves have also affected listed crypto-related companies and corporate treasuries. Strategy purchased 250 Bitcoin for $21.5 million between October 5 and 11, at an average price of $86,194. The company also repurchased 1.93 million STRC shares for $192.4 million. Bitmine bought 12,532 Ether for about $32 million and now holds roughly 4.9% of all Ethereum, according to the report.
Oil, bonds and the next market test
The main debate is whether the latest selloff is specific to digital assets or part of a broader move away from risk-sensitive investments. Brent crude had risen above $101 a barrel after attacks on ships around the Strait of Hormuz and was described as trading near $110, even after President Donald Trump said the United States would not go to war with Iran before the midterm elections.
Bond yields also moved sharply higher. The 30-year U.S. Treasury yield reached 5.70%, its highest level since 2002, before easing to 5.60%. The 10-year yield stood at 5.24% in the source’s market discussion.
Capital.com analyst Daniela Hathorn said investors continue to treat Bitcoin as a risk asset rather than as a geopolitical hedge. James Butterfill of CoinShares offered a different interpretation, arguing that if rising yields reflect concern about U.S. government debt instead of stronger economic growth, Bitcoin could appear more like an alternative to government-issued money.
The immediate focus is U.S. consumer-price data due Wednesday. A softer inflation reading could reduce pressure on yields and improve conditions for risk assets. A hotter result, particularly alongside elevated oil prices, could revive discussion of higher interest rates. The source material did not provide a forecast for the data.
Wider crypto developments
The market downturn arrived alongside several significant developments across the sector:
- NFT marketplace Blur said its front end will be deprecated on November 12, 2026, signaling the project’s final shutdown. NFT prices weakened, with Bored Ape Yacht Club down 17% to 5.09 Ether and Pudgy Penguins down 19% to 2.2 Ether.
- Ledger said every confirmed case in an $87 million wallet drain involved devices sold by Southeast Asian distributor CryptoBilis. The company confirmed an unauthorized hardware implant in at least one device, while CryptoBilis stopped selling the products.
- XRP Ledger developers fixed a payment-engine flaw that could have allowed the creation of XRP without backing. The vulnerability had remained unnoticed since 2015.
- Standard Chartered began holding Ripple’s RLUSD stablecoin for institutional clients through its Dubai branch and is working with Ripple and LMAX on using the deposits as trading collateral.
- Morgan Stanley moved its expected support for tokenized equities on its alternative trading system to the first quarter of 2027, rather than the second half of this year.
Moneyiar market picture
Moneyiar data at 20:44 on October 13, 2026, showed Bitcoin at $83,221.60, up 0.25% over 24 hours but down 2.81% over seven days. CAP traded at $0.09190096, down 4.15% in 24 hours and up 3.55% over seven days. ECOMI stood at $0.0002793431, down 0.07% daily and up 4.13% weekly, while Altlayer was $0.008366713, up 2.48% over 24 hours and 6.29% over seven days.
