Bitcoin ETFs wipe October’s red in a $1.07B glow-up

U.S. spot Bitcoin ($BTC) ETFs extended their rebound to three sessions, taking in $524.8 million Wednesday and roughly $1.07 billion since Monday, erasing October’s losses and leaving the products up roughly $460 million for the month after shedding about $615 million through last Friday, Decrypt’s ETF tracker showed. Monday, October 19, was the funds’ biggest session since September 22, when inflows reached $714.75 million: SoSoValue recorded $526.6 million, while Decrypt’s tracker put the haul at $526.7 million. Before Monday, the ETFs had lost a net $617.17 million in October, which the session reduced to $90.57 million. A net outflow of $163.18 million between October 13 and 16 preceded the reversal, and the rebound followed two weeks in which the funds lost about $910 million.

BlackRock’s iShares Bitcoin Trust (IBIT) supplied all of Monday’s inflow and was the only one of 12 Bitcoin ETFs to post net inflows that day; none of the other 11 did, according to SoSoValue. Cumulative net inflows since launch stood at $58.4 billion, with total net assets at $100.8 billion. Ash Crypto said Bitcoin closed the prior week down about 2% while maintaining $80,000 support, versus a 5% decline in the Nasdaq and more than 11% for the semiconductor index. Over the full month, Bitcoin was down 1.75% since October 1 following a 42.71% third-quarter gain, and at press time traded at $82,060, down 0.44% over the previous 24 hours, according to BeInCrypto Markets.

Bitcoin had returned above the approximately $81,500 average price paid by U.S. spot ETFs, according to Glassnode, after slipping below that level the prior week. Ash Crypto also counted five straight weekly closes above the 50-week moving average, near $76,100, and identified $80,000 and $76,000 as support levels. Glassnode data cited in BeInCrypto’s analysis placed the largest Binance spot bid block at $80,000. Ash Crypto watched $84,000 and $87,500 on the upside, while Glassnode marked $88,000 as the cost basis for six-to-12-month buyers and said a daily close above $88,000 alongside renewed ETF inflows would signal buyers absorbing that supply.

Other crypto ETFs moved in the opposite direction on Monday. Ethereum ($ETH) funds shed $103.28 million, while Solana ($SOL) products lost $6.72 million. As of Monday, Ethereum funds had posted net outflows on 14 of the last 15 trading days, totaling $1.12 billion. Wednesday brought $14.9 million into Ethereum ETFs, snapping a five-day outflow streak that had drained about $389 million; despite that, the funds remained down roughly $1.07 billion for October, with cumulative net inflows of $12.8 billion.

Bitcoin traded at about $81,470 Thursday, down 2.4% over 24 hours but still up 2% on the week, after reaching a weekly high near $85,000 Wednesday. On Wednesday, Bitcoin was near $84,500, up 2.5% over 24 hours, as total crypto market capitalization rose 2.2% to $2.9 trillion following a mid-October slide that pushed it below $80,000. By Thursday, total capitalization had slipped 2.9% to $2.84 trillion; Ethereum fell 2.6%