Bitcoin and Ethereum ended the Oct 19-23 trading period lower, surrendering earlier gains as renewed selling in technology stocks, geopolitical tensions and uncertainty over US interest rates weighed on cryptocurrency markets.

Bitcoin, the world’s largest cryptocurrency, closed Oct 23 at approximately US$81,164, down 0.96% from US$81,953 on Oct 19, after briefly climbing above US$84,800 during the week.

The cryptocurrency initially gained momentum, rising to US$83,032 on Oct 20 before advancing to US$84,117 on Oct 21, supported by renewed institutional buying and inflows into spot Bitcoin exchange-traded funds (ETFs).

However, the rally reversed sharply on Oct 22, with Bitcoin dropping 3.22% to US$81,409 as selling pressure returned across risk assets. It slipped further on Oct 23, closing near US$81,164.

Ethereum followed a similar trajectory, ending Oct 23 at approximately US$2,387, down 0.83% from US$2,407 on Oct 19.

The second-largest cryptocurrency climbed to US$2,449 on Oct 20 and US$2,473 on Oct 21, before plunging 3.4% to US$2,389 on Oct 22. It remained below US$2,400 at the end of the period.

Institutional fund flows reflected mixed sentiment, with spot Bitcoin ETFs recording net inflows of approximately US$309 million over Oct 19-23, while Ethereum ETFs suffered net outflows of about US$221 million.

The sharpest selling emerged on Oct 22, when cryptocurrency ETFs collectively recorded net withdrawals of approximately US$745 million, reversing strong inflows earlier in the week.

Market sentiment was further pressured by weakness in global technology stocks, rising oil prices and uncertainty ahead of the US Federal Reserve’s Oct 28 interest rate decision.

Despite renewed institutional interest in Bitcoin, both cryptocurrencies struggled to sustain their midweek gains, highlighting continued sensitivity to global financial conditions.

Bitcoin enters the next trading period facing a key psychological support level of US$80,000, while Ethereum remains under pressure below US$2,400 as investors assess the outlook for risk assets.