Bitcoin (BTC-USD) was trading down 1.25% at $80,841.90 as of early Saturday, holding above a key demand zone near $80,000 amid continued selling pressure across cryptocurrency markets.
On-chain data revealed that 40 newly created wallets withdrew approximately 9,458 BTC, worth $771.5 million, from trading firm Wintermute since October 1, according to Lookonchain.
The transfers point to significant activity among large holders, though withdrawals alone do not confirm whether the Bitcoin was purchased outright or moved into longer-term custody.
Fidelity’s Bitcoin ETF wallet reportedly received 282.63 BTC, valued at $23.08 million, from Binance, while BlackRock (NYSE: BLK)-linked wallets received an additional 384.77 BTC worth approximately $31.4 million.
Those transactions, flagged by Onchain Lens, indicate continued institutional wallet activity but do not necessarily represent fresh ETF inflows into either fund.
Bitcoin recorded approximately $465.55 million in net spot exchange outflows on October 22, while dollar-denominated exchange reserves declined 1.35% to $226.33 billion.
Technical indicators also showed improving momentum, with the Parabolic SAR turning bullish and the Money Flow Index reaching 53.74, raising hopes of a push toward the $84,000 level.
Strategy (NASDAQ: MSTR) chairman Michael Saylor hinted at further Bitcoin-related developments after the company disclosed purchasing 267 BTC for $22.1 million during October 12 through 18.
Strategy’s total Bitcoin holdings reached 848,517 BTC, acquired for approximately $64.02 billion, cementing its position as one of the largest corporate holders of the asset.
The company also spent $385.5 million repurchasing STRC preferred shares over two weeks, substantially exceeding its $43.6 million in Bitcoin purchases during that same period.
Bitcoin Core developers approved faster disclosure and patching of security vulnerabilities that artificial intelligence tools can easily rediscover, replacing potentially lengthy disclosure embargoes that previously governed the process.
The policy change follows a rise in AI-assisted vulnerability discoveries across Bitcoin infrastructure, prompting developers to accelerate their response protocols.
Bitcoin’s historical relationship with U.S. midterm elections has also drawn renewed attention, given that previous major bear-market lows occurred in the wake of midterm votes.
Bitcoin’s July low of $57,850 arrived months ahead of November’s election, breaking from that historical pattern and suggesting the current market cycle may be operating differently.
By October 22, the cryptocurrency had recovered approximately 40% from that July low, reflecting renewed buyer interest despite broader macroeconomic uncertainty.
Across the wider crypto market, Ether fell 1.0% to $2,380.28, while XRP dropped 2.71% to $1.2907 and Solana declined 2.01% to $102.40 on Saturday.
BNB dropped 0.42% to $739.07, Cardano retreated 2.45% to $0.2114, and Dogecoin lost 1.73% as altcoins broadly declined in early trading.
Among meme coins, TRUMP bucked the trend with a 4.09% gain, while Shiba Inu slipped 0.79% during the same period.
