Bitcoin briefly reclaims $82,000 on Sunday, then slips back near $80,800, as Putin pitches a Trump-Xi summit and ETF outflows near $1 billion in two weeks

Bitcoin briefly reclaimed $82,000 on Sunday afternoon. It rose about 1% to about $82,100 after sliding to just under $80,800 mid-session, according to CoinGape, citing TradingView data in a report published at about 5:25pm Pacific; by about 9:30pm Pacific it had eased back to about $80,800, per CoinDesk's price page. On Friday it had closed near $81,590, down from about $82,337 a week earlier, per Decrypt.

The weekend's biggest geopolitical headline came from the Wall Street Journal, which reported on Sunday that Russian President Vladimir Putin proposed a summit next month with President Donald Trump and Chinese leader Xi Jinping to negotiate an end to the Ukraine war, with the Kremlin suggesting the sidelines of the APEC summit in Shenzhen on November 18 and 19. The proposal was made during an October 9 call, the paper said. Kremlin spokesman Dmitry Peskov said there is "no clear understanding yet regarding the meeting itself or its potential agenda," and a senior US official told the Journal that Trump had not agreed but could be receptive, Reuters reported. On Friday Trump signed an order waiving key sanctions on Moscow.

Fund flows, meanwhile, have not turned. US spot bitcoin ETFs shed a net $228.6 million last week on top of $681.1 million the week before, about $910 million in two weeks, Decrypt reported citing SoSoValue. October, which opened with about $293 million of inflows, is now about $615 million in the red on Decrypt's tracker. Nexo analyst Iliya Kalchev's estimate puts the average ETF holder's cost basis near $82,300, above Friday's close, per Decrypt. Wednesday's $261.4 million outflow, the week's worst, came as September inflation printed at 3.7% against a 3.6% forecast, and a hotter-than-expected producer price reading on Thursday revived talk of another Fed hike.