Bitcoin Traders Watch $74,500 Level as ETF Withdrawals Mount
Bitcoin was around $83,000 on October 11 after a weak week. A CryptoQuant study of past bull cycles put $74,500 as a potential support level if declines continue, though it was not a forecast. U.S. spot Bitcoin ETFs recorded more than $700 million in withdrawals as traders watched $85,000 as resistance.
CryptoQuant's MAC_D compared five prior Bitcoin bull-market cycles in an October 9 note. The average pullback from earlier highs was 14.39%. Bitcoin's drop from $87,027 on October 5 to $80,404 on October 9 was 7.61%, and applying that historical mean pointed to roughly $74,500.
Cycle-specific averages ranged from 7.58% in 2022–2025 to 21.71% in 2011–2013, so the figure is a comparison, not a fixed floor. Meanwhile, U.S. spot Bitcoin ETFs saw over $700 million in weekly net withdrawals.
Bitcoin's moves around $74,500 and $85,000 may shape sentiment among traders and ETF investors. Further declines could pressure leveraged positions, while a rebound might trigger short liquidations and add buying. Households and businesses exposed to crypto could see portfolio swings, and ETF outflows may signal caution beyond digital assets. The impact remains uncertain because the $74,500 level is a historical reference, not a forecast.