Bitcoin retreated in October as the Crypto Fear and Greed Index fell to 56 from a peak of 82 in August. The cryptocurrency was trading between $82,400 and $83,600 on October 12, down roughly 3% for the week. US spot Bitcoin ETFs saw net outflows of $484.9 million on October 7-8, the largest single-day redemption since June, with BlackRock’s IBIT accounting for $207.7 million. On the macro front, the US 10-year Treasury yield climbed to about 5.3% while Brent crude surpassed $100 per barrel. Despite these headwinds, Bitcoin held above the $80,000 support level and its 50-week moving average at roughly $77,200.
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