U.S. spot Bitcoin exchange-traded funds (ETFs) posted their largest single-day withdrawals in more than three months on Wednesday as Bitcoin struggled to hold above $82,000, while widely followed crypto analyst Rekt Capital identified $82,500 as a decisive level for the asset's next move.

Bitcoin ETFs Record $487 Million in Daily Outflows

U.S. spot Bitcoin ETFs lost $487.1 million Wednesday, October 7, according to data from SoSoValue, a crypto fund-flow tracking platform. The withdrawals marked the largest daily outflow since June 25, reversing the stronger demand recorded throughout September.

The funds drew approximately $2.65 billion in inflows during September but have shed $165.6 million so far in October, flipping the monthly trend. Net inflows for the year now stand at $717 million, while cumulative inflows since the products launched in January 2024 total $57.33 billion. Because spot ETFs hold bitcoin directly and trade through standard brokerage accounts, their daily flow figures are widely tracked as a barometer of demand for the asset.

Earlier in the week, the ETFs recorded $89.8 million in withdrawals on October 5. ARK 21Shares and Fidelity led those outflows, while BlackRock attracted fresh investment despite the broader decline across the products.

Rekt Capital Identifies $82,500 as Key Support

Crypto analyst Rekt Capital, known for chart-based technical research on Bitcoin's market cycles, identified $82,500 as a key price level in the current market structure. In his assessment, holding the level could establish a higher trading range, while losing support could return Bitcoin toward the $60,000–$80,000 zone (Source: X).

The analyst compared Bitcoin's current chart with the accumulation pattern observed in 2022 and 2023. His September analysis suggested that maintaining support above previous highs would strengthen the case for a further recovery.

Bitcoin traded around $82,600 on Thursday after slipping below $83,000 amid rising Treasury yields. Analysts also flagged $87,000 as a resistance level that would require stronger buying demand to overcome.

Analysts Watch $80,000 as Market Pressure Grows

FxPro chief market analyst Alex Kuptsikevich identified $80,500 to $81,500 as a possible test area, a range that includes September's local highs and the 50-day moving average. He said buyers could step in there, although further selling could push Bitcoin lower.

Kuptsikevich named $76,000 and $72,000 as potential downside targets should buyers fail to defend support. September's strong ETF inflows, by comparison, showed how quickly fund activity can shift; the current reversal followed a period in which ETF demand underpinned Bitcoin's gains in August and September.

Treasury yields and tensions between the United States and Iran remain additional factors affecting crypto markets, while higher oil prices have raised inflation and borrowing-cost concerns.

Traders continue to monitor Bitcoin's $82,500 level, daily ETF flows, and whether buyers return near the $80,000 area.

This article was first published by CoinCentral.