Bitcoin ETF Outflows Hit $485M, Erasing October Inflows
BlackRock’s IBIT led the redemptions as five major funds posted withdrawals, while October flows turned negative after September’s strong inflows.
- On October 5, Farside Investors recorded $50.8 million in net withdrawals from US spot Ether ETFs, with ETHA shedding $31.9 million in the largest single-day outflow of the session.
- A five-session streak removed $206 million from Ether ETFs, reversing the preceding week's $689.8 million net inflow and signaling a sharp shift in investor sentiment.
- Broader weakness extended to Bitcoin markets on October 7, when US spot Bitcoin ETFs recorded $484.9 million in net outflows, with BlackRock's IBIT leading withdrawals at $207.7 million.
- According to SoSoValue, US spot ETFs registered $487.1 million in net outflows on Wednesday, the highest single-day outflow since June 25, marking a dramatic reversal in market momentum.
- Chief market analyst Alex Kuptsikevich at FxPro warned that further weakness could trigger a "sharp drop, like a high-speed lift, to $76K" or the $72K 200-day moving average.
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Cryptocurrency News | Cryptocurrency Prices | Market CapEthereum price eyes $2,800 as analysts await range breakout
Ethereum price has held near $2,718 on Oct. 6 as positive short-term money flow and bullish analyst views face a five-session withdrawal streak from US spot Ether ETFs. ETH remains above nearby technical support, but its recent trading range leaves…
Following a net outflow of $484.9 million recorded the previous trading day, this movement brings the cumulative net outflow over the last five trading days to $510.1 million.
Bitcoin, Ether Correction Deepens as Macro Shock Exposes a Tired Rally - ActionForex
Bitcoin and Ether fell sharply after months of fading momentum collided with a surge in oil prices and Treasury yields near 5.35%—triggering $484.9m in single-day ETF redemptions and nearly $974m in liquidations, with Bitcoin's next key support at 75,026–76,040 and Ether already testing its 55-day EMA near 2,480.
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