Bitcoin Tops $84,000 as Oil Slips and Spot ETFs Bleed $681M

On Monday, Bitcoin hovered around $84,050 after a drop to $83,500, making a recovery toward Sunday’s peak of $84,145, despite U.S. spot Bitcoin ETFs experiencing their largest net weekly outflows since June, totaling $681 million, as reported by SoSoValue. The selling activity concentrated on October 7 and 8. Meanwhile, West Texas Intermediate crude oil decreased by 1.8% to $90.28 per barrel, partially reversing last week's gains following President Donald Trump's announcement regarding Russian diesel supplies, though specifics remain vague. According to BitDelta India analyst Purvang Mashru, nine out of the ten largest cryptocurrencies saw gains in the last 24 hours, with Avalanche increasing by 5.1% to $10.91. Both analysts identified $82,000 as critical near-term support, warning that a drop below could trigger further selling. The U.S. Consumer Price Index report on October 14 is anticipated to influence Federal Reserve rate expectations, amid ongoing elevated Treasury yields and geopolitical tensions affecting risk assets.