South Korea’s Kospi traded nearly unchanged overnight, indicating some stabilization in the artificial intelligence-related stock trade. Nasdaq 100 futures were also steady, while oil prices continued to move higher.
Bitcoin remained under pressure below the average acquisition price of U.S. spot Bitcoin exchange-traded funds (ETFs). The cryptocurrency traded just above $81,000, compared with the ETFs’ average cost basis of $82,313.
The chart tracks the cumulative average price at which Bitcoin entered these investment funds.
Bitcoin ETFs Record Their Biggest Outflows Since June
U.S.-listed spot Bitcoin ETFs experienced $635 million in net outflows on Thursday amid heightened market anxiety, according to Farside Investors. It was the largest single-day withdrawal since June 25.
Some investors may view the withdrawals as a healthy reset, arguing that short-term traders using leverage have exited the market and cleared the way for a potential recovery. Historical data, however, points to a less encouraging trend.
Farside’s figures indicate that Bitcoin has often struggled in the days and weeks following exceptionally large ETF outflows. Across 22 previous occasions when daily withdrawals exceeded $300 million, Bitcoin was, on average, trading significantly lower 7, 30 and 90 days later.
There are important limitations to this comparison. Spot Bitcoin ETFs have existed for less than three years, leaving a relatively small sample of historical data. The results may also be influenced by the bear market that began in October 2025.
Bitcoin Consolidates Near $81,500 After a Volatile Week
Bitcoin fell to approximately $81,000 late Thursday before settling into a narrower trading range. By early Friday, it was hovering near $81,500, with price movements confined to less than $1,000 after several days of swings of around $3,000.
BTC was down 0.4% over 24 hours and remained below the $82,500 level, which it lost as support on Thursday.
Altcoins delivered mixed performances. BNB led the gains among major tokens, rising nearly 2% to approximately $745, while Dogecoin (DOGE) advanced around 1%.
Monero (XMR) retreated 7% to roughly $607, giving back part of Thursday’s sharp rally. Zcash (ZEC) fell nearly 4% to around $1,200. Hyperliquid’s HYPE token, XRP, Ether and Solana (SOL) each declined by about 1% or less. Ether traded just below $2,400, according to CoinDesk data.
Stocks Stabilize While Rising Oil Prices Raise Inflation Concerns
U.S. equity futures also steadied following Thursday’s sharp sell-off. Nasdaq 100 futures were little changed after the index posted its steepest daily decline since June, while an exchange-traded fund tracking semiconductor stocks edged higher before the opening bell.
Meta shares continued to fall, whereas SpaceX moved higher following reports that the company plans to enter the wireless carrier market.
Oil prices remained a key concern. Brent crude reached its highest level since early May, adding to inflation uncertainty ahead of the Federal Reserve’s Oct. 27–28 policy meeting.
U.S. Treasuries surrendered part of Thursday’s safe-haven gains, which had driven the 10-year Treasury yield down by its largest amount in more than a year. Gold and the U.S. dollar remained broadly unchanged.
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