Bitcoin: ETFs Rebound With $110M in Inflows After $774M in Outflows

American Bitcoin ETFs would show a rebound of 110 million dollars, while BTC remains under 80,000 dollars. The latest Binance reading placed Bitcoin around 79,730 dollars. The announced return of funds comes after two particularly difficult sessions: investors had withdrawn 773.5 million dollars from ETFs on October 22 and 23. The figure for the new rebound still awaits confirmation in the consolidated data.

Bitcoin: ETFs Try to Rebound After Two Difficult Sessions

The return of buyers comes after an eventful week. Bitcoin ETFs had attracted $1.07 billion in three sessions, between October 19 and 21. BlackRock had largely contributed to this recovery, notably with $665.2 million collected on Monday.

The movement abruptly reversed on Thursday. Funds lost $635.6 million, then an additional $137.9 million on Friday. Over two days, $773.5 million thus exited American Bitcoin ETFs.

The weekly balance, however, remains positive. According to sosovalue data, funds ended the week of October 19 to 23 with approximately $301.2 million in net inflows, ending two consecutive weeks of withdrawals.

The announced recovery of $110 million would constitute a new improvement. However, it would only offset about 14% of the outflows recorded the previous Thursday and Friday. Furthermore, the data available for October 26 session are still incomplete. It is currently impossible to determine exactly which managers fueled this rebound.

BlackRock and Fidelity Concentrate the Latest Withdrawals

Figures from the previous week already allow identification of the main movements. On Thursday, October 22, BlackRock lost $254.1 million and Fidelity $217.5 million. Withdrawals continued on Friday. BlackRock’s IBIT recorded approximately $110.3 million in outflows, compared to $31.8 million for Fidelity’s FBTC.

In just two sessions, BlackRock lost $364.4 million and Fidelity $249.3 million. Together, these two managers represent nearly 80% of the $773.5 million withdrawn during this period.

The concentration is significant. Other funds recorded more limited movements. Morgan Stanley even attracted about $4.2 million on Friday, despite the general market weakness. Another observation: the weekly rebound of $301.2 million masks strong variations.

ETFs had collected $1.07 billion during the first three sessions. They then lost nearly 72% of this sum before Friday’s close. Institutional investors therefore remain active on Bitcoin, but their operations are particularly irregular. The return of a few tens or hundreds of millions of dollars does not yet guarantee a new period of sustained accumulation.

Bitcoin Remains Below $80,000 Before the Fed

Bitcoin’s price does not yet clearly benefit from this announced improvement. On Binance, BTC was trading around 79,730 USDT at the latest reading, after briefly rising above 80,000 dollars during the weekend.

The main crypto thus remains below an important technical zone. On October 21, Glassnode identified a support between 80,000 and 81,500 dollars, the latter value roughly corresponding to the average cost basis of Bitcoin ETF investors.

The price now trades below these levels. Lower, Glassnode places the actual average market cost basis around 77,500 dollars. This level could serve as the next reference point if sellers regain the advantage.

The U.S. calendar adds further uncertainty. The Federal Reserve holds its monetary policy meeting on October 27 and 28. Its decision will be followed, on October 29, by the publication of the September PCE, one of the main U.S. inflation indicators.

Investors will closely watch the Fed’s comments on interest rates and economic outlook. The Bitcoin market arrives at this deadline with a fragile price and institutional flows difficult to interpret. ETFs did finish last week in the green after two weeks of withdrawals. A new rebound would reinforce this recovery if the final data confirm it. For now, Bitcoin still needs to reclaim the 80,000 dollars.