- U.S. Bitcoin ETFs face a $79.1M outflow after seven consecutive days of strong inflows, indicating potential market volatility.
- Ethereum ETFs record a $11.9M inflow, marking a turnaround despite overall net flows remaining negative at -$482M.
- Bitcoin’s price hovers near $67,200, reflecting short-term resistance, while market indicators suggest renewed investor optimism.
US Bitcoin exchange-traded funds (ETFs) saw outflows on October 22, ending a seven-day streak of strong inflows, according to Spot On Chain. Bitcoin’s price is near $67,200, reflecting trader uncertainty. BlackRock’s iShares Bitcoin Trust (IBIT) remains a major buyer, acquiring 22,480 BTC worth $1.51 billion over the past week and increasing its total holdings to 392,121 BTC.
Bitcoin ETF Net Flows Turn Negative After Strong Week
After a week of inflows, US Bitcoin ETFs recorded a net outflow of $79.1 million on October 22. This shift coincided with the ARK 21Shares Bitcoin ETF (ARKB) experiencing its largest outflow ever, at $134.7 million. In contrast, IBIT continued to grow, adding 637 BTC worth $43 million over six consecutive trading days. The cumulative total net inflow has reached $21.19 billion since inception, demonstrating strong investor interest.
Ethereum ETFs had a modest inflow of $11.9 million, rebounding from a previous outflow. BlackRock’s iShares Ethereum Trust (ETHA) was the only fund with positive net flows, while the other nine ETFs showed zero net activity. Despite this positive change, the total cumulative net flow for Ethereum ETFs is still negative, at -$482 million, after 65 trading days. Analysts suggest that continued inflows could signal improving sentiment for Ethereum investors.
Bitcoin ETF Demand Remains Strong
Bitcoin ETFs have seen increased demand over the past 30 days, with peak net inflows of $556 million. This corresponds with Bitcoin’s price rally from $55,000 to $67,295. Initial outflows of up to $243 million indicated weak sentiment, but subsequent inflows suggest renewed investor confidence. The rising demand for Bitcoin ETFs highlights their impact on Bitcoin’s price, potentially signaling continued bullish momentum.
Bitcoin and Ethereum Market Analysis
Bitcoin’s price recently stood at $66,410.18, reflecting a 1.11% drop in 24 hours. The 24-hour trading volume reached $28.17 billion, while its market cap stood at $1.31 trillion. Despite the recent price dip, Bitcoin’s market dominance increased to 57.32%, indicating strong investor interest. The Crypto Fear and Greed Index is at 71, suggesting trader optimism. However, a 14% drop in futures volume and a 28% fall in liquidations could mean market volatility.
At press time, Ethereum trades at $2,582, down 1.88% over the past 24 hours, with a trading volume of $14.15 billion. Its market cap stood at $310.86 billion. Derivatives trading for Ethereum has declined, with a 14.02% drop in volume and a 26.50% decline in options trading. Open interest is stable at $13.48 billion. Traders seem to favor shorts, as shown by a 24-hour long/short ratio of 0.9539. Liquidations mainly affected long positions, totaling $26.65 million over the day.
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