U.S. spot Bitcoin (BTC) ETFs recorded $679 million in net outflows last week, according to CoinShares. On Wednesday alone, net outflows reached $485 million, the highest level since June.

Ethereum (ETH) ETFs also recorded nearly $700 million in net outflows over nine consecutive sessions. Meanwhile, BTC recovered to around $83,500 after falling to $80,300 from nearly $87,000 on October 5.

According to CoinShares’ biweekly report, BTC has traded nearly sideways over the past two weeks and remains about 33% below its peak last October. The correlation between BTC and the Nasdaq has returned to its long-term average of around 40%, while its correlation with inflation-linked bonds continues to rise.

On the macroeconomic front, nonfarm payrolls increased by just 29,000 in September. Markets are pricing in about a 20% chance of a rate hike in October and nearly 70% in December. The 10-year U.S. Treasury yield reached 5.37%, its highest level since 2002.

CoinShares says this week’s CPI is a key variable. If core CPI rises 0.3% month over month, expectations for an October rate hike could strengthen, putting BTC at risk of retesting the $80,000 level. An increase of 0.2% or less would support expectations that the rate hike will be delayed until December.

Source: https://tintucbitcoin.com/bitcoin-chiu-ap-luc-do-von-rut-khoi-etf-va-ky-vong-tang-lai-suat/

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