Bitcoin Nears $100K ‘Capitulation’ as ETF Outflows and Volatility Spike

Bitcoin (BTC) closed October with its worst monthly performance since 2018, falling nearly 4% as spot ETF outflows returned and traders turned defensive despite macro tailwinds.

ETF Outflows and Weak Institutional Demand

BTC hovered around $110,000 on Saturday after dipping to weekly lows near $107,000.

Data from Glassnode and Farside Investors showed more than $670 million in ETF outflows between Thursday and Friday, signaling renewed sell pressure from traditional investors.

Glassnode noted that the Federal Reserve’s rate cut failed to sustain optimism as traders hedged risk amid a “hawkish tone” for December.

“Markets have shrugged off macro tailwinds — institutional demand remains weak,” the analytics firm wrote.

Traders Eye $100K Support

Crypto investor Ted Pillows described the current market action as a “time-based capitulation,” warning that a weekly close below $100K could confirm a larger downtrend.

Analyst Daan Crypto Trades said a decisive move would come only once BTC breaks out of its $107K–$116K range.

Bollinger Bands Signal Record Volatility Ahead

Bitcoin’s monthly Bollinger Bands have now reached their most compressed levels in history, according to analyst Matthew Hyland, suggesting that major volatility could be imminent.

The indicator’s creator, John Bollinger, recently said it was “time to pay attention” to volatility in both Bitcoin and major altcoins.

Despite the October slump, historical data from CoinGlass shows November has been Bitcoin’s best-performing month, averaging +42.5% gains since 2013.

Key Takeaways

• BTC down 3.7% in October — worst since 2018

• $670M ETF outflows signal institutional weaknes

• Support zone: $100K–$107K; Resistance: $116K

• Bollinger Bands imply volatility breakout ahead

See all our insights: Bitcoin World News