Spot Bitcoin ETFs recorded $301M in net inflows for the week, reversing a two-week losing streak despite late-week outflows keeping October net negative.
Macro & Markets ·
Spot Bitcoin ETFs reversed a two-week losing streak by posting approximately $301 million in net inflows for the week, though late-week weakness kept the monthly picture negative. After climbing $1.07 billion from Monday through Wednesday, the funds gave back $773.5 million over two consecutive days of outflows, with Friday alone recording a $137.9 million exit. Despite the weekly rebound, Bitcoin ETFs remain down roughly $314 million for October, while Ethereum ETFs have declined approximately $1.18 billion for the month.
Bitcoin itself slipped to around $80,490, down 1.1% over 24 hours and 1.2% on the week. Traders on prediction markets have grown more bearish, raising the odds of Bitcoin dropping to $77,500 before month's end to 43%, up from 32% a day earlier, with an 18% probability assigned to a fall to $75,000. The broader crypto market lost 1.2%, with total market capitalization reaching $2.79 trillion as Ethereum fell 2.6% and Solana declined 2.8%.
It remains unclear whether Bitcoin will sustain momentum into November or whether October's underperformance signals a broader trend shift. Cumulative inflows into Bitcoin ETFs since their January 2024 launch stand at $57.6 billion.