Spot Bitcoin ETFs see massive outflows, pushing BTC toward $80,000 support
U.S. spot Bitcoin exchange‑traded funds recorded $773.43 million of net outflows over two trading sessions, the largest since late June. The withdrawals were led by BlackRock’s iShares Bitcoin Trust, which lost $110.34 million on Oct. 23, while Fidelity’s fund saw $31.78 million exit. The outflows coincided with Bitcoin slipping to about $80,500, testing a key support level near $80,000.
Why it matters
The sharp outflows reduce demand for Bitcoin held by the ETFs, which can force the funds to sell Bitcoin and add downward pressure on the spot price. Investors holding spot Bitcoin or ETF shares may see increased volatility and potential losses if the price breaks below the $80,000 support zone.
Key facts
- 1U.S. spot Bitcoin ETFs recorded a total net outflow of $773.43 million over Oct. 22‑23, the largest two‑day outflow since late June. tradingview.com
- 2On Oct. 23 alone, the ETFs saw $635 million of net outflows, the biggest single‑day withdrawal since June. dmarketforces.com
- 3BlackRock’s iShares Bitcoin Trust lost $110.34 million on Oct. 23, the largest outflow among the funds. tradingview.com
- 4Fidelity’s Wise Origin Bitcoin Fund had $31.78 million leave on Oct. 23. tradingview.com
- 5Bitcoin price fell to $80,517, testing the $80,000 support level. dmarketforces.com
- 6For the week to Oct. 23, spot Bitcoin ETFs posted a net inflow of $301.2 million after earlier inflows, according to Farside data. investinglive.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.