Spot $BTC ETFs just recorded their worst daily outflow since June, with $484.9 million pulled out in a single day. That is a sharp reversal for a market that had been leaning on ETF demand as a steady bid.
The macro backdrop is not helping. Oil is hovering near $100, bond yields have climbed to their highest level since 2002, and the Federal Reserve has signaled it is not done hiking rates.
Together, those forces are squeezing risk assets, and crypto is feeling the heat. The so-called Uptober is turning red, with the ETF outflow adding to the bearish mood.
It is not yet clear whether this is a one-day shock or the start of a deeper trend. For now, the data shows $BTC ETF investors stepping back fast.
Tap $BTC to trade.
Tap $BTC to trade
$BTC $NEAR
غيرك سبقك وتابع. ادخل بروفايلي وخلك مع اللي يقرأ قبل ما ينتشر الخبر.
The macro backdrop is not helping. Oil is hovering near $100, bond yields have climbed to their highest level since 2002, and the Federal Reserve has signaled it is not done hiking rates.
Together, those forces are squeezing risk assets, and crypto is feeling the heat. The so-called Uptober is turning red, with the ETF outflow adding to the bearish mood.
It is not yet clear whether this is a one-day shock or the start of a deeper trend. For now, the data shows $BTC ETF investors stepping back fast.
Tap $BTC to trade.
Tap $BTC to trade
$BTC $NEAR
غيرك سبقك وتابع. ادخل بروفايلي وخلك مع اللي يقرأ قبل ما ينتشر الخبر.