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Bitcoin ETFs Record $773 Million in Two-Day Outflows as BTC Price Tests $80,000
Published Updated 4 new reports since it was first published
U.S. spot Bitcoin ETFs saw another day of withdrawals on Oct. 23, extending a two-session outflow streak that reached $773.43 million. One coverage piece adds that the market is also watching onchain BTC signals, including exchange-flow shifts and positioning scores, for signs of further weakness.
What this rests on
Claim by claim, with its source
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U.S. spot Bitcoin ETFs recorded $137.94 million in net outflows on Oct. 23.
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Combined withdrawals from U.S. spot Bitcoin ETFs reached $773.43 million over two sessions.
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A shift toward net exchange inflows, together with negative positioning index scores, would be a warning sign of additional bearish pressure.
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Onchain BTC signals are being tracked alongside the ETF withdrawal streak for signs of further weakness.
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Spot Bitcoin ETFs saw $443 million in net outflows, and Ether funds also bled.
What it means
Spot Bitcoin ETFs became the main on-ramp for institutional exposure after the SEC approved them in January 2024, ending more than a decade of rejected filings and giving funds like BlackRock's IBIT and Fidelity's FBTC a direct read on demand. Since launch, daily creation and redemption data has functioned as a proxy for sentiment that once relied on exchange order books alone, making two-session outflow streaks like this one a closely watched gauge of institutional conviction.
Authorized participants redeeming shares means issuers are selling underlying bitcoin to meet withdrawals, converting paper outflows into real spot-market supply. Traders now cross-reference the $137.94 million single-day pull with onchain positioning scores and exchange-flow data, treating a shift toward net exchange inflows alongside negative positioning readings as a specific trigger for expecting further selling. Desks that built models solely on ETF creation data are adding these onchain checks to avoid false signals. (per ambcrypto.com)
The divergence between Bitcoin and Ether fund flows, with Ether ETFs bleeding alongside the $443 million Bitcoin outflow, undercuts any simple narrative of a single 'crypto trade' and shows allocators treating the two assets separately. It also exposes a dependency the ETF structure never advertised: price discovery now runs partly through quarterly 13F-reportable fund flows rather than purely through spot and derivatives markets, meaning institutional redemption decisions carry outsized weight over short stretches.
The next daily ETF flow prints will show whether the two-session, $773.43 million outflow run extends into a third day or reverses, which issuers and market-makers will read as the clearest signal yet. Equally decisive is whether onchain exchange flows actually turn net positive alongside negative positioning scores, the specific combination flagged as confirming further bearish pressure rather than a temporary pause in accumulation.
Market reaction
-0.16 %
before publication
-0.21 %
after
$80,675price at publication
12series points
How the story was built
Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
first
U.Today
scoop
Oct 24 11:19
U.Today
scoop
Breaks the event: $773.4M
+18 h 41 m
NewsBTC
adds
Oct 25 06:00
NewsBTC
adds
Breaks the figures down; the largest, $1.1B
+19 h 41 m
AMBCrypto
context
Oct 25 07:00
AMBCrypto
context
Its angle: positioning, negative, exchange
+1 d 16 h
Crypto Briefing
adds
Oct 26 03:58
Crypto Briefing
adds
Adds $443M
What could happen next i
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72,000, last 7 days