Damn, institutions are fleeing even faster than retail investors. On October 7, U.S. spot BTC ETFs saw $487 million in outflows in a single day—the worst in six months. BlackRock’s IBIT alone lost $208 million, while ETH has been bleeding for seven straight days.
The trigger came from outside crypto: Treasury yields hit their highest level since 2002, oil prices neared $100, and the Fed hinted at another rate hike. With risk-free returns at 5%, nobody wants to hold non-yielding BTC. What stings even more is that the price has fallen below the ETFs’ average cost basis of 84,318; of the $429 million in liquidations, 87.5% were long positions.
Keep a close eye on ETF flows ahead of the Fed’s rate decision on the 27th. $BTC
#比特币ETF单日净流出2.44亿美元
The trigger came from outside crypto: Treasury yields hit their highest level since 2002, oil prices neared $100, and the Fed hinted at another rate hike. With risk-free returns at 5%, nobody wants to hold non-yielding BTC. What stings even more is that the price has fallen below the ETFs’ average cost basis of 84,318; of the $429 million in liquidations, 87.5% were long positions.
Keep a close eye on ETF flows ahead of the Fed’s rate decision on the 27th. $BTC
#比特币ETF单日净流出2.44亿美元