Spot Bitcoin ETFs attracted $1.07 billion in inflows over three days, bringing October net flows to $460 million positive despite recent price weakness.
Macro & Markets ·
U.S. spot Bitcoin ETFs recorded $524.8 million in inflows on Wednesday, extending a three-day buying streak to approximately $1.07 billion and reversing October's earlier net outflows into positive territory at roughly $460 million, according to Decrypt's ETF tracker. The inflow momentum began Monday, when BlackRock's IBIT contributed $526.7 million in a single day—the strongest performance since late September. Ethereum ETFs also halted losses, capturing $14.9 million on Wednesday after bleeding roughly $389 million over the preceding five sessions, though the month remains substantially negative at approximately $1.07 billion.
Despite the accumulation by fund managers, asset prices moved lower. Bitcoin declined 2.4% to near $81,470, while Ethereum fell 2.6% to around $2,393. Broader market capitalization contracted 2.9% to $2.84 trillion. The inflow reversal follows weeks of selling pressure and aligns with renewed institutional confidence: J.P. Morgan Asset Management this week published its first long-term Bitcoin forecast, projecting 10% compound annual returns over the next decade-plus alongside estimated 55% volatility.
Sentiment on near-term price action remains cautious. Traders on Myriad prediction markets assign Bitcoin only a 20% probability of exceeding $87,500 before month-end and 35% odds of dropping to $77,500. Ethereum sentiment is more optimistic, with a 61.3% chance assigned to reaching $3,000. Unresolved drivers include the Federal Reserve's late-October meeting, where persistent inflation could prompt another rate increase.