Bitcoin sees $771M in whale withdrawals

Bitcoin lending has evolved with stronger risk management, attracting institutional interest despite weaker asset prices. Ledn, a Bitcoin lender, achieved a $188M investment-grade rated ABS, demonstrating resilience in lending models. Bitcoin-backed loans use conservative LTVs and automated risk controls to minimize losses, according to the company.

Bitcoin (BTC) fell to $80,988 before recovering to $81,600. US stocks declined, with the S&P 500 and Nasdaq down 0.6% and 0.2%, respectively, while the 10-year US bond yield stayed below 5%. Oil prices surged due to US-Iran tensions, with Brent crude reaching $116 per barrel. Analysts noted a decoupling between oil prices and flows, incorporating a significant risk premium.

Bitcoin Core updated its disclosure policy on October 22, 2026, to publicly release fixes for easily discoverable vulnerabilities immediately. This change aims to reduce the window for potential attacks, as easily found flaws can be exploited before users update. Bitcoin was trading at around $81,400 per coin on October 23, 2026, highlighting the financial stakes.

Bitcoin fell below $82,000, reaching a low of $80,840, as AI credit concerns weighed on stocks. CoreWeave dropped 15.5% after Bernstein cut its price target. QCP Capital noted credit stress in the neocloud sector, affecting tech stocks and crypto. Nvidia's CEO cited capital scarcity. Tesla's lower-than-expected capex added to concerns. Bitcoin ETFs saw $635M outflows, and cross-crypto liquidations totaled $336M.

Bitcoin ETFs saw $635.6M in outflows on Thursday, with BlackRock and Fidelity funds experiencing the largest withdrawals. Bitcoin's price dropped below $81,000 but later recovered to $81,669. The outflows were driven by risk-off sentiment due to rising oil prices after attacks in the Middle East. Higher oil prices may increase the likelihood of U.S. interest rate hikes, potentially impacting bitcoin's performance.

U.S. spot Bitcoin ETFs experienced $635.6M in net outflows on Oct. 22, the largest since June, led by BlackRock's iShares Bitcoin Trust with $254.1M outflows. Outflows coincided with a 2.60% drop in the Nasdaq Composite and a 5% Bitcoin price decline. Despite this, Bitcoin ETFs saw $442.7M inflows over the past week and $57B since January 2024, with total AUM exceeding $100B.