Bitcoin ETF inflows rebound with about $442 million last week. This snapped a two-week outflow streak. However, heavy withdrawals late in the week limited the gain.
Why Bitcoin ETF inflows rebound matters
The funds lost about $228 million the previous week. They lost $680 million the week before. Consequently, October’s net outflows stood at about $314 million. SoSoValue data confirms this.
Strong start gives way to heavy withdrawals
Bitcoin ETFs drew $1.08 billion between Monday and Wednesday. Meanwhile, Bitcoin climbed to a weekly high of $84,777 on Wednesday. TradingView data confirms this.
However, investors then withdrew about $774 million on Thursday and Friday. During that time, BTC retreated toward $80,000.
ETF investors sell into declines, DWF Labs says
DWF Labs published research on Thursday. The market maker found a clear pattern. Specifically, net outflows occurred during seven of eight Bitcoin sell-offs of at least 15%. That covers the period since US spot Bitcoin ETFs launched in January 2024.
“ETF investors aren’t the dip buyers people think they are,” DWF said.
Bitcoin price and sentiment weaken
At press time, Bitcoin traded at $80,225. That is down about 3.3% over the past seven days. Meanwhile, the Crypto Fear & Greed Index fell to 44. That is a “Neutral” reading, down from “Greed” at 73 a month earlier.
Ether ETFs record fourth straight week of outflows
US spot Ether ETFs recorded a fourth consecutive week of net outflows. Specifically, they shed about $224 million last week. SoSoValue data confirms this.
Key takeaway
Bitcoin ETF inflows rebound with $301 million. However, late-week selling shows investors remain cautious. Therefore, traders should watch ETF flows and Bitcoin’s price action closely.