Bitcoin slips below $82,000 as US spot ETFs see $729 million withdrawn

Bitcoin struggled to regain its footing after briefly dropping below $82,000, with $729 million in net outflows from US spot Bitcoin exchange-traded funds (ETFs) over two consecutive trading days pressuring the leading cryptocurrency. US spot Bitcoin ETFs saw significant net redemptions, with $484.9 million withdrawn on October 7 and another $244.1 million on October 8, according to ETF data compiled by Farside Investors. This period marked one of the sharpest waves of institutional selling in October.

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