Bitcoin hovers near $80,000 as tech sell-off and ETF outflows pressure crypto

Bitcoin traded near the $80,000 mark after sliding 5.4% from weekly highs of $84,800 to lows around $79,200. The decline followed risk-off sentiment driven by AI equity valuation concerns, rising oil prices near $117 a barrel, and caution ahead of the Federal Reserve's rate decision. Spot Bitcoin ETFs saw a single-day outflow of roughly $635 million, the largest exit since June, contributing to $772.4 million in net withdrawals over two days. The slide also triggered over $400 million in derivatives liquidations across Bitcoin and Ether.