Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis
Summary
US spot Bitcoin ETFs saw $635 million in net outflows on Oct. 22, their largest daily withdrawal since June 25, reversing much of the prior three sessions’ inflows. BlackRock’s IBIT and Fidelity’s FBTC accounted for most of the selling. Bitcoin fell as low as $80,841 amid geopolitical tensions and weakness in US stocks. Analysts cited cautious, short-term investor behavior and noted that ETF and corporate buying had weakened; $77,600 was identified as a possible downside reference if Bitcoin breaks below $80,000. US Ethereum ETFs lost $111 million, bringing October outflows to about $1.18 billion and leaving year-to-date net inflows near $387 million.
