Bitcoin Loses Key Support Ahead of the Weekend. Is a Big Move Coming?

Bitcoin ended a daily session under its 50-day simple moving average, its first such close since August, after another failed push toward $85,000. It traded at $81,715, down 0.39% over 24 hours, ending roughly a month of range-bound trading between $81,000 and $85,000. A technical indicator called Bollinger Bands reached its tightest level in about 2.5 years, while liquidation clusters, where forced orders could accelerate a move, sat around $82,500-$82,650 and near $80,850 and $80,000. Open interest, the value of outstanding derivatives positions, was $54.09 billion, and US spot Bitcoin ETFs recorded net outflows of 3,964 BTC, worth about $322 million, on Oct. 22.