Bitcoin Price Rebounds Above $80K as Altcoins Slide
Bitcoin price recovered above $80,000 on Sunday after falling to about $79,100, a five-week low. It was still down 1.95% over the week, while Ethereum fell 3.41% to around $2,332 and Solana slipped to about $101.
Altcoin losses were broad: Bitway fell 29.31%, while Rain and Hedera each lost more than 13%. Pepe and MemeCore bucked the trend, gaining 14.15% and 19.4% over seven days, although MemeCore also saw a steep daily drop. U.S. spot Bitcoin ETFs recorded about $773.5 million in outflows on October 22–23, reversing some earlier inflows. A sell-off on October 24 triggered roughly $546.9 million in leveraged-position liquidations.
Bitcoin price faces resistance near $82,368, with $84,725 another level to watch. A fall below $80,000 could put support near $78,000 in focus. The week’s trading reflects fragile sentiment, despite Bitcoin’s rebound and gains in a few tokens.
Bearish
The overall signal is bearish for crypto trading in the near term. Bitcoin’s recovery above $80,000 offers some support, but it remains down on the week and faces resistance near its 20-day simple moving average at $82,368. The sharp losses across mid-cap altcoins, nearly $774 million in spot Bitcoin ETF outflows over two sessions, and about $547 million in liquidations point to weaker risk appetite and heightened volatility.
Similar episodes of ETF outflows and leveraged liquidations have often amplified short-term price swings: forced selling can push prices through support levels, while a rebound can trigger rapid short covering. Traders may therefore watch whether BTC holds $80,000 and whether ETF flows stabilize. A break below $80,000 could increase attention on support around $78,000; a sustained move above $82,368 would weaken the immediate bearish case. Longer term, this week’s price action alone does not establish a lasting trend. Continued institutional flows, broader market demand, and Bitcoin’s ability to reclaim resistance levels will matter more than a single rebound.