Bitcoin falls below its 50-day moving average for the first time in nearly two months, as US spot ETFs record consecutive two-day net outflows exceeding $770 million.

On October 24, Bitcoin News stated that Bitcoin fell below its 50-day moving average, ending a 66-day streak of trading above the line, marking the first occurrence since August. As of reporting, BTC was trading at approximately $80,600, still roughly 10% above its 200-day moving average.

Meanwhile, US spot Bitcoin ETFs recorded a net outflow of $137.9 million on Friday, marking a second consecutive day of capital outflows. The previous Thursday saw outflows reach $635.6 million, setting the largest single-day net outflow record since June this year. Cumulative outflows across the two trading days totaled approximately $773.5 million.