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Ad Home / Price Analysis / Bitcoin Price Prediction as ETF Outflows Hit Highest Level Since June Amid Strengthening Dollar Bitcoin Price Prediction as ETF Outflows Hit Highest Level Since June Amid Strengthening Dollar 08 Oct, 2026 By Muthoni Mary Muthoni Mary
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling. Read full bio Copied! Why Trust CoinGape CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information. Highlights
Bitcoin (BTC) price is down 1.5% today, October 8, to trade at $82,492 at the time of writing. This drop coincides with rising outflows from spot BTC ETFs as the crypto market’s sentiment weakens
The dip also coincides with a rise in the value of the US dollar to a multi-month high following the hawkish tone observed in the recently released FOMC minutes
Data from SoSovalue shows that there were $487 million in outflows from Bitcoin ETFs on October 8. This marks the highest outflows seen by these products since late June 2026
The BlackRock Bitcoin ETF recorded the highest share of the outflow at $207 million, while Fidelity’s BTC ETF recorded an outflow of $105 million
Still, Bitcoin ETFs were not the only ones in the red because all altcoin ETFs besides NEAR and Litecoin recorded either outflows or zero inflows
The outflows surged after the release of FOMC minutes on October 7, which revealed that most Federal Reserve officials are leaning towards another rate hike in 2026
The US dollar index (DXY) has risen to above 102 for the first time since April 2025. The surge comes as markets anticipate another Fed rate hike in 2026
Data from CoinGape prediction markets shows that 77% of investors expect that there will be a change in interest rates at the December FOMC meeting
Rate hikes strengthen the dollar, but they also weaken the demand for risk assets such as Bitcoin because investors choose to hold government bonds that offer a higher yield when rates are high, while exposing them to minimal risk
CryptoQuant data shows that demand for Bitcoin in the spot market is weakening because the Apparent Demand metric has turned negative
The Coinbase Premium Index is also negative, suggesting that there is weak buying pressure from US-based investors
The futures market also shows a similar decline in demand, with Bitcoin’s open interest dropping by nearly 10% to $26 billion
The dropping OI suggests that traders are not willing to open new positions on Bitcoin price as they minimize risk
However, Bitcoin’s funding rate has risen from 0.0017% on October 7 to 0.0050% at the time of writing, per CoinGlass data, suggesting that long traders are paying short sellers to maintain their positions despite the recent drop to below $83,000
Despite the recent drop in price to below $83,000, Bitcoin price remains above all the crucial weekly EMAs, suggesting that the uptrend remains strong
However, Bitcoin needs to close above the resistance at $86,500 to confirm the beginning of another bullish leg towards $90,000
If the short-term future Bitcoin outlook remains bearish, Bitcoin price might retest the psychological support at $80,000 and if it does not hold, it might move to the 100-week EMA of $78,800
The CMF reading of 0.08 also suggests that the buying pressure remains higher than the selling pressure on the weekly timeframe
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2. How low could Bitcoin price go if the downtrend continues?
3. Can Bitcoin price reach $90,000 in October 2026?
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information
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