1112 ET - Bitcoin ETFs recorded their first net outflow day since mid-September, entering a month that typically is strong for both ETF flows and retail investor demand. "Bitcoin's median October return has historically been around 11%-14%," says Lacie Zhang of Bitget Wallet in a note. "October has a strong historical track record for bitcoin, but seasonality alone is not an investment thesis." Zhang says that outside macroeconomic factors may keep pressure on bitcoin this month. "High interest rates, oil prices and renewed inflation pressure remain the main headwinds." Zhang pegs downside support at $82,000, while resistance is seen at $87,500. Bitcoin is up 0.5% to $84,047.
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