US spot Bitcoin ETF outflows reached $681 million last week, the largest weekly withdrawal since June, according to SoSoValue data, as Bitcoin hovered near $83,000 on Monday.
Bitcoin ETF outflows and price action
Most of the withdrawals came on Wednesday and Thursday, October 7 and 8. Bitcoin rebounded toward $84,000 early on Monday, touching about $84,250, but pulled back to trade near $83,400 as the session went on. Ether, XRP and Solana followed a similar path.
Altcoins were stronger, with nine of the top ten coins higher over 24 hours. Avalanche rose 5.1% to $10.91 and Chainlink gained 2.4% to $13.35, while AVAX, NEAR, FIL and ZRO climbed 8% to 12%.
What analysts are watching
Vikram Subburaj, CEO of Giottus Exchange, said ETF flows remain volatile and described the heavy outflows of October 7 and 8 as a sign of cautious institutional sentiment. Purvang Mashru, lead analyst at BitDelta India, pointed to a demanding macro backdrop, noting that US Treasury yields hit 24-year highs in the week ending October 9.
Both analysts named $82,000 as key support that bulls need to hold. The next major catalyst is US inflation data due this week. Oil prices also moved on Monday after President Donald Trump announced a deal for Russia to supply 300,000 metric tons of diesel, a partial easing of sanctions.
