Bitcoin struggles around $80,000 as ETF outflows increase, uncertainty grows

Bitcoin faces another crucial test as it moves near the $80,000 mark, following a failed attempt to reclaim higher levels earlier in the week. The leading cryptocurrency saw its price reach around $80,500 on October 24, marking a continued pullback from Wednesday’s short-lived rally and highlighting increased selling pressure and uncertainty in the market regarding U.S. interest rates. Market analysts are closely watching Bitcoin’s ability to maintain support above $80,000, amid concerns that a further breakdown could trigger deeper declines. The latest pullback comes after a particularly volatile week in which Bitcoin briefly surged to $84,800 but was unable to maintain those gains. The recent recovery had been helped by a surge in inflows to exchange-traded funds, but the momentum faded before a sustained breakout could materialize.

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