Overview
- A steep selloff in South Korean chip stocks and related cross‑market leverage sparked large liquidations that drove Bitcoin briefly below $81,000 before buyers stepped in to defend that zone on Tuesday.
- Buyers managed short rebounds that crossed the 200‑hour moving average but repeatedly failed to hold above the $84,000–$85,000 area, leaving price trapped in a roughly $81k–$84k band.
- US spot Bitcoin ETFs have recorded notable net outflows in October, removing a steady institutional bid and forcing funds to sell into rallies rather than soak up supply.
- Exchange order books and liquidation heat maps show concentrated sell walls and liquidation clusters near $84,000–$84,800, and on‑chain data indicate long‑term holders have taken profits, both capping upside.
- Traders are watching the CPI release as the immediate catalyst because a hotter print would likely tighten Fed expectations and risk a deeper drop below $81k, while a softer reading could help squeeze through $84k and test $85k–$87k.