One Fund, One Win, One Massive Bitcoin ETF Monday 🏦

US spot Bitcoin ($BTC) exchange-traded funds pulled in $526.6 million in net inflows on Monday, October 19, their largest single-day haul since September 22, when the products took in $714.75 million. The figure more than reversed the prior week's net outflow of $163.18 million between October 13 and 16, and cut October's net ETF losses from $617.17 million to $90.57 million, according to SoSoValue data.

BlackRock's iShares Bitcoin Trust ($IBIT) was the sole Bitcoin fund to record a net inflow on the day, with none of the other 11 funds posting positive figures. While Bitcoin products surged, Ethereum ($ETH) and Solana ($SOL) ETFs moved in the opposite direction, shedding $103.28 million and $6.72 million respectively. The Ethereum outflows extended a broader trend, with those funds posting net outflows on 14 of the last 15 trading days for a cumulative $1.12 billion.

The Bitcoin inflows followed a week in which the asset held up better than US tech stocks. Bitcoin closed the week down about 2% and held the $80,000 support level, according to analyst Ash Crypto. Over the same period, the Nasdaq fell 5% and the semiconductor index dropped more than 11%. Month-to-date, Bitcoin is down 1.75% since October 1, following a 42.71% gain in the third quarter. At press time, BTC traded at $82,060, down 0.44% over the past 24 hours, per BeInCrypto Markets data.

Bitcoin has now moved back above the spot ETF cost basis of approximately $81,500 cited by Glassnode, after slipping below that level last week. Ash Crypto also noted that Bitcoin has closed above its 50-week moving average, near $76,100, for five consecutive weeks, framing $80,000 and $76,000 as downside support and $84,000 and $87,500 as upside levels. Glassnode separately marked $88,000 as the cost basis for six-to-12-month holders and identified $80,000 as the largest Binance spot bid block, conditions that could shape the next directional test for the asset.