Crypto ETF Outflows Hit $166.78M as Bitcoin Faces Potential $75K Drop
BTC when published $81,348Now $80,595 ▼ −0.93% since it was published
Bitcoin ETF outflows reached $82.39 million on October 16, as spot Ethereum ETFs lost another $69.68 million. The withdrawals coincided with Bitcoin trading at $81,381.41, down 0.38% over 24 hours and 1.41% over seven days. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $71.78 million in Bitcoin ETF outflows, while its Ethereum fund, ETHA, recorded $69.68 million in withdrawals. Meanwhile, market analyst Cryptoinsightuk warned that Bitcoin could face a deeper correction toward $75,000. He cited rising leveraged long exposure, positive funding rates, and liquidity below Ethereum’s market price. According to Wu Blockchain, US spot Bitcoin ETFs recorded $82.39 million in net outflows on October 16. BlackRock’s IBIT accounted for $71.78 million, while Fidelity’s fund lost $10.61 million.
First reported by Blockonomi. This page is a short excerpt; the full text is theirs.
