Bitcoin Falls Below $80K Amid $1.6B ETF Outflows in October

Bitcoin's value dips below Microstrategy's purchase price as major cryptocurrencies decline, marking a challenging month for investors.

Over the weekend, Bitcoin experienced a notable decline, dipping below the $80,000 mark due to significant outflows from exchange-traded funds (ETFs). With a staggering $1.6 billion leaving the ETF market in October, this month has become the third most challenging in terms of outflows recorded.

This downturn has propelled Bitcoin's trading price to briefly fall beneath the acquisition price of Microstrategy, a prominent player in the cryptocurrency sector. This marks the first such occurrence since October 2023, signaling a concerning trend for the leading digital currency as it faces intensified market pressures.