U.S. spot Bitcoin ETFs saw net outflows of $643.2 million on October 30.
This figure marked the largest daily outflow recorded since June.
Key developments:
▪️ The four-day streak of net inflows came to an end.
▪️ The weekly balance for ETFs turned negative.
▪️ Signs of a short-term weakening in institutional demand for Bitcoin have emerged.
Outflows of this magnitude from ETFs should be closely monitored in terms of institutional demand. However, it would be incorrect to conclude that the long-term trend has changed based on a single day’s data.
Whether ETF flows return to positive territory in the coming days will be significant for the direction of the Bitcoin market.
#Bitcoin #BTC $BTC
This figure marked the largest daily outflow recorded since June.
Key developments:
▪️ The four-day streak of net inflows came to an end.
▪️ The weekly balance for ETFs turned negative.
▪️ Signs of a short-term weakening in institutional demand for Bitcoin have emerged.
Outflows of this magnitude from ETFs should be closely monitored in terms of institutional demand. However, it would be incorrect to conclude that the long-term trend has changed based on a single day’s data.
Whether ETF flows return to positive territory in the coming days will be significant for the direction of the Bitcoin market.
#Bitcoin #BTC $BTC