In this video, we break down Bitcoin on the 1hr chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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As of October 23, 2026, Bitcoin (BTC) is trading at approximately $81,565, experiencing a minor 24-hour decline of roughly 0.14% to 0.47%. Despite facing technical and macroeconomic headwinds earlier in the week, the asset is exhibiting significant resilience by firmly holding above the critical $80,000 support floor.
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Bitcoin Insights Today
• Macroeconomic Spillover: The broader financial markets suffered a tech-led selloff on Thursday, with the Nasdaq dropping 2.6%. While Bitcoin initially fell 3.6% alongside traditional equities, it quickly stabilized on Friday morning. Analysts note that BTC's 90-day volatility has structurally calmed to about 58%, causing it to behave increasingly like a mature mega-cap tech stock rather than a speculative alternative asset.
• Massive ETF Outflows: According to SoSoValue data, U.S. spot Bitcoin ETFs registered a steep $635 million net outflow on Thursday. This heavy institutional selling completely erased the momentum from earlier in the week, which had seen over $1 billion in net inflows across Monday through Wednesday.
• The Safe Haven Rotation: While traditional defensive assets like gold and silver dropped an estimated $1.3 trillion in value over a four-day span due to persistent inflation fears, Bitcoin's ability to maintain its $80,000 baseline suggests a potential capital rotation toward digital assets as an alternative inflation hedge.
• FOMC Anxiety: Investors are expressing caution ahead of the upcoming Federal Open Market Committee (FOMC) meeting on October 27–28. Sticky crude oil prices near $113 are stoking core inflation worries, driving down the market's Fear & Greed Index from 68 to 50 (Neutral).
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