Bitcoin fell for a third consecutive week, dropping 2.43% and retesting the $80,000 level after losing support at $82,500, according to Wintermute's October 26 market update. U.S. spot Bitcoin ETFs recorded $636 million in outflows on Thursday — the largest single-day outflow since June — while the Nasdaq declined 2.6% the same day. The trading firm noted that Brent crude surged 5.66% to $116.72 following Houthi attacks on Saudi oil facilities, shifting market focus from AI financing to energy risks. Bitcoin has been range-bound between $80,000 and $82,500 over the past three weeks, with Wednesday's FOMC meeting expected to determine the direction of the breakout. If $80,000 fails, next support sits at $76,000; a break below that could send BTC into the low $70,000s. Wintermute said it remains cautious but not bearish, noting Bitcoin's tight correlation with AI and broader macro trends and two-way ETF flows. The firm pointed to the upcoming FOMC decision and PCE data as key catalysts, with $82,500 serving as the critical reclaim level.