TLDR
- Bitcoin traded near $81,558 on Saturday after bouncing at $80,000 on Thursday.
- Fed Chair Kevin Warsh gave no sign of further rate hikes, and odds of an October hike fell to 15% from 27%.
- U.S. spot Bitcoin ETFs saw $82.39 million in net outflows on October 16.
- South Korea’s KOSPI rose 2% on Friday but is still down 8.3% for the week.
- Analyst Ted Pillows said buyers are in control as long as BTC stays above $80,500.
Bitcoin (BTC) traded near $81,558 on Saturday, down 0.73% on the day. The price came after a volatile week in which it briefly fell below $80,000 before recovering.
BTC reached a weekly high above $84,000 earlier in the week. It struggled to hold those gains after stronger U.S. economic data and expectations of more Fed rate increases.
Crypto markets steadied on Friday alongside a rebound in South Korean stocks. The KOSPI Composite Index closed at 5,668, up 2% on the day but down 8.3% for the week.
Fed Chair Comments Ease Rate Fears
Federal Reserve Chair Kevin Warsh avoided any mention of further rate hikes during a discussion with IMF Managing Director Kristalina Georgieva. “I don’t prejudge meetings,” he said.
Markets read the tone as dovish. CME Group’s FedWatch Tool showed the chance of a 25-basis-point hike in October at 15%, down from 27% a day earlier.
Economist Robin Brooks said the October meeting is “pretty much off the table” for a hike. He pointed to fears of stress in the AI sector as a factor making markets more open to a dovish message.
US stocks were mixed on Friday. The Nasdaq Composite fell 0.5%, while the S&P 500 rose 0.5%.
The 10-year Treasury yield reached 5.13% before settling at 5.07%. The Kobeissi Letter said in an X post on Thursday that stock weakness has been the only source of bond-yield corrections since August, and that equities may be in a “bull-bear” market.
ETF Flows and Chart Levels
U.S. spot Bitcoin ETFs recorded $82.39 million in net outflows on October 16. BlackRock’s iShares Bitcoin Trust accounted for $71.78 million of that total.
Spot Bitcoin ETFs Recorded $82.39 Million in Net Outflows, While Spot Ethereum ETFs Saw $69.68 Million in Net Outflows on October 16 (ET)
On October 16 (ET), spot Bitcoin ETFs recorded total net outflows of $82.39 million, led by BlackRock’s IBIT with $71.78 million in net… pic.twitter.com/O46CGKwVnN
— Wu Blockchain (@WuBlockchain) October 17, 2026
Flows were uneven this week. Funds saw $65.4 million in outflows on October 12, then $175.7 million in inflows on October 13. Withdrawals of about $261.4 million followed on October 14.
On the chart, BTC/USD held most of its reclaimed ground after the bounce at $80,000. Analyst Ted Pillows noted that Bitcoin posted another daily close above the 50 EMA and 50 SMA. He said buyers remain in control while BTC holds above $80,500.
Another daily close above the 50 EMA and 50 SMA for Bitcoin.$BTC buyers are still in control, and as long as BTC holds above $80,500, the upside remains the max pain. pic.twitter.com/1E6zGaYbRd
— Ted (@TedPillows) October 16, 2026
The level to watch next is $80,500, with $83,000 as the upside target.
Ethereum investment products also saw $69.68 million in outflows on October 16. Circle reported about $1.4 billion in first-half 2026 revenue, and it reports third-quarter earnings on November 4.
Traders are now watching whether renewed ETF demand can lift Bitcoin toward $83,000, while more withdrawals could add pressure on $80,000.
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