## KEY TAKEAWAYS
- Bitcoin rose 1.9% to $82,130.1 on Friday, recovering from a brief drop below $80,000 in the prior session, but was still on track for a second straight weekly loss of about 0.9%, according to Investing.com.
- Spot Bitcoin ETFs were headed for a second consecutive week of outflows, with about $146.2 million exiting so far this week, per SoSoValue data.
- Bitcoin was down more than 2% in October as the seasonal "uptober" rally failed to materialize for a second year running.
- Markets largely retained bets that the Federal Reserve will hike interest rates again this year, following hot September inflation prints that weighed on speculative, risk-heavy assets like crypto.
- Ether rose 3.6% to $2,442.72 on Friday but was down nearly 2.6% for the week.
## DETAILED SUMMARY
Bitcoin rose on Friday, recovering a small portion of its recent losses as lower U.S. Treasury yields and softer oil prices supported risk-driven assets, according to Investing.com. The world's largest cryptocurrency climbed 1.9% to $82,130.1 by 01:48 ET (05:48 GMT) after briefly falling below $80,000 in the previous session, when bargain hunting helped lift prices. Despite the rebound, Bitcoin was still tracking a second straight weekly decline of about 0.9% and was down over 2% in October.
The month's weakness reflected a combination of headwinds. The historical tendency for strength in October, known as "uptober," did not materialize, and Bitcoin faced soaring yields and oil prices as well as renewed capital outflows from its spot exchange-traded funds. Spot Bitcoin ETFs were on course for a second consecutive week of net outflows, with roughly $146.2 million withdrawn so far this week, according to SoSoValue data. Profit-taking followed Bitcoin's strong gains in the second quarter.
Broader market pressures also played a role. A sharp selloff in high-flying technology and artificial intelligence stocks spilled over into crypto markets this week, as rising expectations of higher U.S. interest rates weighed on the sector. Bets on a rate hike were boosted by hot September inflation data, and higher rates are generally unfavorable for speculative assets such as crypto. Yields later fell as the technology rout deepened, providing some support for risk assets on Friday.
Other major digital assets moved in a similar pattern. Ether, the second-largest crypto by market value, rose 3.6% to $2,442.72 but was down nearly 2.6% for the week. Altcoins and memecoins also advanced on Friday, with several gaining between 1.7% and 4.3%, though the leading tokens in that group were still down between 3.8% and 8% for the week.
