Key Points
- Bitcoin ETFs recorded their first outflow day on October 22, following 7 consecutive influx days.
- BTC worth trades under $67,000, regardless of Trump’s rising odds of profitable the US elections surpassing 64%.
Yesterday, the US Bitcoin ETFs recorded their first outflow day, following 7 consecutive days of serious inflows. However, BlackRock, VanEck, and Fidelity’s Bitcoin ETFs continued to purchase BTC.
US BTC ETFs Flows on October 22
According to knowledge from SoSoValue, the US Bitcoin ETFs noticed over $79 million in outflows, the primary day after an extended streak of inflows that debuted on October 11 and lasted till October 21.
The most important influx day from this 7-day streak of inflows was October 14 when the crypto merchandise recorded nearly $556 million in inflows, in line with SoSoValue data.
Here are the inflows and outflows within the crypto merchandise on October 22:
- BlackRock’s Bitcoin ETF, IBIT, noticed nearly $43 million in inflows.
- Fidelity’s Bitcoin ETF, FBTC, recorded nearly $9 million in inflows.
- VanEck, ‘s Bitcoin ETF, noticed nearly $4 million in inflows.
- The solely Bitcoin ETF that recorded outflows yesterday was Ark Invest and 21Shares’ ARKB, at nearly $135 million in outflows.
The different Bitcoin ETFs didn’t see any inflows or outflows yesterday.
The complete web belongings in BTC ETFs within the US had been over $65 billion as of October 22, and the cumulative complete web influx within the crypto merchandise surpassed $21 billion.
Regarding Bitcoin’s worth in the present day, the coin misplaced as soon as once more assist for $67,000.
BTC Is Trading Above $66,500
At the second of writing this text, BTC is buying and selling at $66,500, after earlier seeing a worth drop near $66,200, forward of a fast reversal.
The coin is seeing elevated worth volatility, amidst an vital financial week which incorporates an IMF-Work Bank assembly.
Analysts anticipated excessive volatility for the coin’s worth, particularly for the reason that US elections are getting nearer.
On October 21, Bitcoin’s worth rallied above $69,000, a worth stage that has not been seen since June, however the week continued with a descendant development for the digital asset.
Last week’s BTC rally was fueled by steady inflows in US BTC ETFs and rising odds of a Trump win. According to knowledge from Polymarket, in the present day, Trump continues to steer Kamala Harris by 64.1% to 35.8%.
Considering that the rising Trump election odds have been a catalyst for Bitcoin’s worth final week, a continued surge for a Republican win may assist the coin’s worth and set off a rebound. Until then, the current worth correction offers merchants an awesome accumulation alternative.
