Bitcoin Falls 7% as ETF Outflows Add to Pressure Before CPI

Bitcoin remained under pressure Tuesday after falling about 7% from early last week, as weaker altcoins, a one-day outflow from U.S. spot Bitcoin exchange-traded funds and elevated Treasury yields weighed on market sentiment ahead of the next U.S. inflation report. Bitcoin (BTC) was near $83,000 on Oct. 13 after dropping from roughly $87,000 early the week of Oct. 5 to about $81,000 on Oct. 12. The decline has put pressure on “Uptober,” a market label linked to Bitcoin’s historically strong October performance. Major altcoins recorded steeper losses over the same seven-day period.

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