$BTC fell to around $80,300
ETF inflows have also started to change
Yesterday, BTC dipped to around $80,300, after people were discussing a breakout above $87,000 just a few days ago—now it has returned to the $80,000 level again.
The recent changes in ETF flows are especially worth paying attention to.
On October 6, US spot BTC ETFs saw net inflows of about $119 million, but on October 7 they flipped directly to net outflows of about $485 million.
Among them, BlackRock’s IBIT had outflows of $208 million, Fidelity’s FBTC outflows were $105 million, and ARKB saw outflows of $102 million.
That means that within just a single trading day, ETF capital showed a clear reversal.
However, a one-day ETF outflow does not necessarily mean institutions are withdrawing long-term, especially as US bond yields are rising and expectations of further rate hikes have not faded. It’s not unusual for some capital to temporarily reduce risk-asset exposure.
I still believe it’s necessary to focus on the $80,000 area.
If BTC can reclaim $83,000–$84,000, there may be room for a short-term rebound. But if $80,000 can’t hold, altcoins may also go through another round of a larger correction.
$ETH
ETF inflows have also started to change
Yesterday, BTC dipped to around $80,300, after people were discussing a breakout above $87,000 just a few days ago—now it has returned to the $80,000 level again.
The recent changes in ETF flows are especially worth paying attention to.
On October 6, US spot BTC ETFs saw net inflows of about $119 million, but on October 7 they flipped directly to net outflows of about $485 million.
Among them, BlackRock’s IBIT had outflows of $208 million, Fidelity’s FBTC outflows were $105 million, and ARKB saw outflows of $102 million.
That means that within just a single trading day, ETF capital showed a clear reversal.
However, a one-day ETF outflow does not necessarily mean institutions are withdrawing long-term, especially as US bond yields are rising and expectations of further rate hikes have not faded. It’s not unusual for some capital to temporarily reduce risk-asset exposure.
I still believe it’s necessary to focus on the $80,000 area.
If BTC can reclaim $83,000–$84,000, there may be room for a short-term rebound. But if $80,000 can’t hold, altcoins may also go through another round of a larger correction.
$ETH