Bitcoin ETF flows are moving way too fast!
Over the previous three trading days, U.S. spot $BTC ETFs had just recorded cumulative inflows of $1.07 billion. Then, on October 22 alone, they saw net outflows of $635 million.
In just one day, nearly 60% of the inflows from the previous three days were wiped out.
More concerning, $ETH ETFs also saw $110 million in outflows that same day, bringing their cumulative outflows since the start of October to nearly $1.2 billion.
Institutional flows clearly haven’t stabilized yet.
Still, I don’t think one large outflow is enough to prove that BTC won’t rebound.
The key thing to watch now is buying demand around $80,000. If ETF outflows continue but the price holds above $80,000, that would instead suggest the market is absorbing institutional selling pressure.
If both flows and prices move lower, $76,000 may need to be retested.
Over the previous three trading days, U.S. spot $BTC ETFs had just recorded cumulative inflows of $1.07 billion. Then, on October 22 alone, they saw net outflows of $635 million.
In just one day, nearly 60% of the inflows from the previous three days were wiped out.
More concerning, $ETH ETFs also saw $110 million in outflows that same day, bringing their cumulative outflows since the start of October to nearly $1.2 billion.
Institutional flows clearly haven’t stabilized yet.
Still, I don’t think one large outflow is enough to prove that BTC won’t rebound.
The key thing to watch now is buying demand around $80,000. If ETF outflows continue but the price holds above $80,000, that would instead suggest the market is absorbing institutional selling pressure.
If both flows and prices move lower, $76,000 may need to be retested.