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Bitcoin Holds Above $83,000 as ETF Outflows and Global Market Caution Weigh on Sentiment

Bitcoin Holds Above $83,000 as ETF Outflows and Global Market Caution Weigh on Sentiment

Large-holder buying offers support, but uncertain institutional demand continues to limit Bitcoin’s recovery.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 14 October 2026 12:19 IST

Bitcoin Holds Above $83,000 as ETF Outflows and Global Market Caution Weigh on Sentiment

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Major cryptocurrencies show mixed momentum amid market uncertainty

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Highlights

Strive adds 3,311 BTC, taking its holdings to 32,773 BTC
Bitcoin ETFs record $65.4 million in daily outflows
US inflation data could influence expectations for the Fed’s next move

Bitcoin traded near Rs. 79 lakh on Wednesday as the cryptocurrency market faced mixed signals, with institutional outflows and uncertainty over US monetary policy weighing on sentiment despite signs of continued buying by large holders. Ethereum (ETH) was trading near Rs. 2.37 lakh, while major altcoins showed mixed price movements. Market participants said that although spot buying and derivatives positioning were helping absorb institutional selling, demand from US spot Bitcoin exchange-traded funds (ETFs) remained uneven. According to CoinGecko data, Bitcoin traded at $83,500 (roughly Rs. 79.2 lakh), while Ethereum was priced at $2,500 (roughly Rs. 2.37 lakh).

The world's largest cryptocurrency fell 0.6 percent in the last 24 hours, according to the Gadgets 360 price tracker. US spot Bitcoin ETFs recorded $65 million (roughly Rs. 617 crore) in outflows, indicating uneven institutional demand. However, improving on-chain trends and renewed buying by large holders are offering some support. Strive also added 3,311 BTC, taking its total holdings to 32,773 BTC.

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Major Altcoins Show Mixed Momentum on Wednesday

Binance Coin (BNB) was priced around $743 (roughly Rs. 70,500), while Solana (SOL) traded near $107.22 (roughly Rs. 10,100). XRP hovered around $1.37 (roughly Rs. 130), while Dogecoin (DOGE) traded near $0.084 (roughly Rs. 7.5).

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Highlighting the mixed macroeconomic signals and renewed accumulation by large holders, Prateek Gupta, Head of Business, Mudrex, said, “Broader risk sentiment remains fragile, with South Korea's Kospi sliding 5 percent on AI valuation concerns and the dollar index rising to 102.57. Spot Bitcoin ETFs saw $65 million (roughly Rs. 617 crore) in outflows, signalling uneven institutional demand. However, on-chain trends are improving with BTC finding support near $81,500 (roughly Rs. 77.33 lakh), the average cost basis for US ETF investors, while large holders have resumed buying after over a year of selling.”

Commenting on institutional demand, macroeconomic uncertainty and the key support levels, Vikram Subburaj, CEO, Giottus.com, said, “US spot Bitcoin ETFs recorded heavy outflows earlier this month, with withdrawals of $484.9 million (roughly Rs. 4,600 crore) on October 7 and $244.1 million (roughly Rs. 2,316 crore) on October 8. Although flows have since stabilised, demand remains fragile [...] Investors should avoid chasing short-term rebounds. Staggered buying, disciplined position sizing and monitoring ETF flows and US inflation data can help manage volatility.”

Pointing to Bitcoin and Ether's gains despite continued institutional redemptions, Nischal Shetty, Founder, WazirX, said, “Bitcoin and Ether moved higher despite continued institutional outflows, indicating that spot demand remained active [...] INJ also advanced to $8.14 (roughly Rs. 772), with its major daily moving averages continuing to favour buyers. The gains came as US Treasury yields eased towards 5.22 percent and markets expected the Federal Reserve to hold rates in October, although inflation, dollar strength and higher oil prices remained concerns.”

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Overall, analysts said Bitcoin's $81,300-$82,000 (roughly Rs. 77.1 lakh-Rs. 77.8 lakh) support zone remains important, while a sustained move above $84,000-$84,500 (roughly Rs. 79.7 lakh-Rs. 80.1 lakh) could strengthen recovery prospects. Investors are also watching US inflation data due on October 14 for clues about the Federal Reserve's next rate decision and the outlook for risk assets.

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Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More