Trading at 81,781 dollars, Bitcoin hovered below the 82,000-dollar threshold on Friday as a broader rout in global technology stocks and a surge in crude oil prices heavily constrained risk appetite across international financial markets, kr.investing.com reported.
Tech Sell-Offs and Interest Rates Pressure Cryptocurrency Prices
The world’s largest cryptocurrency slipped 0.2 percent by 6:17 p.m. Korea time, remaining completely trapped within the 80,000 to 87,000 dollar range that has defined its price action over the past month. Sell-offs accelerated across global technology equities after major Wall Street tech firms delivered disappointing earnings results.
Rising interest rates and mounting scrutiny over the long-term growth sustainability of the AI industry triggered widespread equity liquidations. Because digital assets trade in high correlation with risk-on equities and remain vulnerable to elevated borrowing costs, the broader crypto market absorbed the shockwaves of this macro risk-off sentiment.
Market anxiety intensified as crude oil prices climbed to roughly five-month highs. The rally was driven by persistent geopolitical friction across the Middle East, alongside market reports indicating potential military escalations between the United States and Israel against Iran slated for November.
Spike in Spot Bitcoin ETF Inflows Fails to Move Spot Prices
Despite the prevailing macro headwinds, institutional capital movement told a starkly different story regarding structured investment products. Spot Bitcoin exchange-traded funds recorded their largest weekly net inflows since late September, effectively snapping a two-week streak of consecutive capital outflows.
Data compiled by SoSoValue revealed that spot Bitcoin ETFs pulled in 442.7 million dollars in net inflows during the week ending October 22. Yet, this institutional allocation failed to catalyze any upward momentum in spot prices, leaving Bitcoin pinned inside its established consolidation band.
Subdued Price Action Across Major Altcoins
Alternative cryptocurrencies mirrored Bitcoin’s stagnation, registering minimal price variations through Friday’s trading sessions. Ether, the second-largest digital asset by market capitalization, settled flat at 2,406.84 dollars.
Meanwhile, Ripple inched down 0.3 percent. Solana traded flat, Cardano edged up 0.4 percent, and BNB posted a 1.4 percent gain. Among meme-focused tokens, Dogecoin and $TRUMP both notched gains exceeding 1 percent.
