Bitcoin traded near $81,700 on Oct 20 after $229 million left its ETFs in a week. Does it close below $78,000 by Oct 26?
90% of users predicted NO — the community got this one right. 10 predictions cast.
Bitcoin did not close below $78,000 by Oct. 26. After trading near $81,700 on Oct. 20 following roughly $229 million in weekly spot bitcoin ETF outflows, the token kept drifting lower through the week but held above the $78,000 mark. Price trackers cited by Fortune put bitcoin at roughly $79,700 to $80,300 on Oct. 26, finding support in the high-$70,000s rather than breaking through the threshold this question tracked.
The decline tracked broader risk-off positioning ahead of the Federal Reserve's Oct. 27-28 policy meeting, along with continued withdrawals from spot bitcoin ETFs, including BlackRock's IBIT and Fidelity's FBTC. Traders were reluctant to add exposure before the Fed's rate decision, and elevated oil prices tied to Middle East tensions kept broader inflation concerns in play, adding to the cautious tone across risk assets that week.
The community had given just a 10% chance of a sub-$78,000 close, correctly anticipating that the price would hold above that level even as ETF outflows and pre-Fed caution pushed bitcoin to its lowest levels of the month.