Bitcoin ETFs Erase October Losses as BTC Price Falls

| decrypt.co
U.S. spot Bitcoin ETFs drew about $525 million to $528 million on Wednesday, extending their inflow streak to three trading days. The funds attracted roughly $1.07 billion to $1.08 billion over the period, reversing October’s earlier losses and leaving monthly net inflows at about $460 million. BlackRock’s IBIT and Fidelity’s FBTC led Wednesday’s inflows. Since launch, Bitcoin ETFs have recorded $58.4 billion in cumulative net inflows and hold $100.8 billion in net assets; year-to-date net inflows were reported at $1.34 billion. Ethereum ETFs also returned to net inflows, taking in $14.9 million and ending five consecutive days of withdrawals, although they remain down about $1.07 billion for October. Solana and XRP ETFs recorded smaller inflows. Despite stronger ETF demand, Bitcoin fell 2.4% in 24 hours to about $81,470, after briefly reaching $84,777 earlier, while Ethereum declined 2.6% to around $2,393. The overall crypto market value slipped 2.9% to $2.84 trillion. Traders on Myriad put the odds of Bitcoin rising above $87,500 before October ends at 20%, versus a 35% chance of a fall to $77,500. Traders are also watching the Federal Reserve’s Oct. 27–28 meeting, as persistent inflation keeps the possibility of another rate increase in focus.
Bearish
The immediate price signal for Bitcoin is bearish: despite three consecutive sessions of substantial Bitcoin ETF inflows, BTC fell 2.4% in 24 hours and retreated from an earlier high. This divergence suggests that ETF demand has not yet outweighed selling pressure or broader market weakness. The cited prediction-market odds also assign a higher probability to a drop to $77,500 than to a rise above $87,500, while uncertainty around the Federal Reserve and persistent inflation may keep traders cautious in the near term. Over a longer horizon, the inflows are a supportive factor. Three-day net buying reversed October’s ETF outflows, and cumulative inflows and assets highlight sustained institutional demand. Historically, renewed ETF buying can help underpin sentiment, but flows do not guarantee immediate price gains. Bitcoin’s direction will also depend on whether inflows persist, broader risk appetite and interest-rate expectations. On balance, the current price reaction and near-term risks support a bearish classification, despite the longer-term demand signal.