Record Withdrawal Event: Bitcoin ETFs recorded $484.9 million in net outflows on Wednesday, marking their largest single-day withdrawal since June 25. Top Funds Hit Hard: BlackRock's IBIT led the losses with $207.7 million in outflows, followed by Fidelity's FBTC at $105.1 million and ARK 21Shares' ARKB at $101.7 million.
Matt Cole said stock-investment mandates prevent some portfolio managers from buying Bitcoin or Bitcoin ETFs directly, affecting a $500 billion pool of capital.
Spot demand recovered as Bitcoin prices declined, while large Ether and multi-asset leveraged positions highlighted risks across crypto markets.
The U.S. government transferred approximately 9,261 BTC, valued at $770 million, to Coinbase Prime on Tuesday and Wednesday, according to Galaxy Research. While much of the bitcoin originated from known criminal seizures, researchers identified another 2,456 BTC from previously unrecognized holdings.
U.S. spot Bitcoin ETFs held about 1.293 million BTC in an Oct. 8 snapshot valued near $107 billion at a Bitcoin price of $82,606.
Just 24 hours after analysts said big inflows into spot ETFs are required to lift bitcoin BTC$82,440.16 meaningfully above $87,000, a level that has limited gains lately, data shows sentiment went in the opposite direction.
The TokenPost tally covered Binance, Bybit and OKX through 7:13 a.m. ET on Oct. 8, while Bitcoin fell 0.80% to $82,417.
The liquidation occurred at $82,345 on Oct. 8 at 7:11 a.m. ET (11:11 UTC).
The US government moved 9,261 Bitcoin to Coinbase Prime, including 2,456 BTC in newly discovered funds pointing to federal law enforcement seizures.
Will Robinhood's Bitcoin treasury plan mirror its recent successful crypto bets?
Bitcoin falls toward $83K as yields, oil and the dollar rise, putting $80K support and a potential rebound in focus.
Justin Drake's call to prepare for an AI break of wallet cryptography drew a mixed response as bitcoin slipped below $83,000.