Bitcoin Price Keeps Falling: Here’s What Is Driving the Sell-Off

Bitcoin price is under renewed selling pressure after another failed attempt to push through the upper end of its recent range. BTC has now slipped toward $82,600, with the latest decline coming as ETF demand reverses, oil prices surge and Treasury yields climb to multi-decade highs. On-chain data adds another layer: short-term profitability has cooled and exchange flows remain highly volatile, but the data does not yet show a broad capitulation. The result is a market caught between heavy short-term selling and longer-term buyers waiting for lower prices.

Bitcoin ETF Outflows Are Removing a Major Source of Demand

The sharp reversal in ETF flows is one of the clearest reasons behind Bitcoin’s latest weakness. U.S. spot Bitcoin ETFs recorded $487.9 million in net outflows on October 7, marking the largest daily withdrawal since June 25.

The move erased the $321.6 million in net inflows accumulated during October’s first four trading sessions, leaving the month with roughly $163 million in net outflows. The largest withdrawals included approximately $207.7 million from IBIT, $105.1 million from FBTC and $101.7 million from ARKB.

Bitcoin is therefore losing institutional buying pressure at the same time that its technical structure is weakening. If ETF withdrawals continue, BTC could struggle to reclaim $85,900 even if selling momentum starts to slow.