On October 22, Bitcoin's price dropped by nearly $3,000 to trade near $81,000, aligning with a downturn in US equity markets. The decline followed a failed attempt by buyers to push the price above the key resistance level of $85,578, after which sellers regained control. This crypto sell-off coincided with significant drops in tech stocks, as the Nasdaq 100 fell 2.82% and the Nasdaq Composite decreased by 2.56%.
The cryptocurrency declined after spot Bitcoin ETFs recorded significant outflows of $635 million, weighing on the price and breaking recent support levels.
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