Bitcoin ETFs Draw $241M as October Rally Builds

| bitcoinmagazine.com
U.S. spot Bitcoin ETFs recorded $241.1 million in net inflows last week, extending their positive streak to three consecutive weeks. The funds attracted capital on every trading day except Wednesday, when investors withdrew nearly $149 million. Earlier inflows of $102.7 million on Thursday and $31.7 million on Friday helped start October on a positive note after September 30 outflows of $148.7 million ended a nine-session inflow streak. BlackRock’s iShares Bitcoin Trust received more than $450 million, while Fidelity and Morgan Stanley funds also saw strong activity. Since launch, cumulative Bitcoin ETF inflows have reached $58.1 billion, with total net assets of about $101.1 billion. September delivered $2.65 billion in net inflows, making it the funds’ second-best month since October 2025. Bitcoin traded near $85,605 and was up almost 7% over 30 days after briefly reaching $87,173, close to its September high. CryptoQuant said Bitcoin had re-entered a bull market after moving above its 365-day moving average. The cryptocurrency also benefited from the debasement trade and strong third-quarter performance. A weaker U.S. jobs report, with 29,000 jobs added in September and unemployment rising to 4.2%, reduced expectations for an October rate hike. CME FedWatch data put the probability at 14%, down from 70% earlier in the week. Traders will focus on the September CPI report on October 14 and the Federal Reserve meeting on October 28. The Bitcoin ETF inflows and improving technical signals support the positive start to October, a month often associated with strong Bitcoin returns. However, Bitcoin spent much of 2026 in a bear market and remains vulnerable to macroeconomic shifts, liquidation events and sharp volatility. Myriad traders put the probability of Bitcoin failing to reach a new all-time high in 2026 at 93%.
Bullish
The news is bullish for BTC in the near term. Three consecutive weeks of Bitcoin ETF inflows, including $241.1 million last week, point to sustained institutional demand and may improve spot-market liquidity. BlackRock’s inflows and the funds’ record-scale cumulative assets further strengthen the positive sentiment. Bitcoin’s move above its 365-day moving average is also a historically important technical signal, while lower expectations for a near-term U.S. rate hike reduce pressure from tighter monetary policy. However, the signal is not uniformly positive. Bitcoin remains below its previous all-time high, has spent much of 2026 in a bear market and is exposed to macroeconomic data, CPI volatility and forced liquidations. The 93% probability assigned by Myriad traders to Bitcoin not setting a new 2026 high shows that market participants remain cautious. ETF redemptions or a hawkish shift by the Federal Reserve could quickly weaken the rally. Overall, the combination of persistent ETF demand and improved technical momentum supports a bullish short-term bias, while long-term confirmation still depends on macroeconomic conditions and sustained inflows.