U.S. spot bitcoin ETFs recorded net outflows of about $635.5 million on Thursday, October 22, according to SoSoValue. It was the largest single-day outflow since June 25 and ended three inflow sessions that had brought in about $1.08 billion: roughly $526.6 million on October 19, $23.16 million on October 20 and $528.4 million on October 21. BlackRock’s IBIT accounted for about $254 million of Thursday’s outflow and Fidelity’s FBTC for about $217 million. Net flows for October are now about -$174.5 million.
The outflow came as bitcoin fell from its October 21 high near $84,800 to about $81,000. CoinGlass reported roughly $406 million to $431 million in liquidations over 24 hours, almost all of them leveraged longs. The fund data alone does not prove that ETF selling caused the drop. Analysts also point to excess leverage in futures, Brent crude above $100 amid Gulf tensions, and technical weakness, with bitcoin below its Keltner middle band and nearing a daily close below its 50-day moving average.
Key levels: support sits at about $81,000, then $80,000, then about $78,422. Resistance is at about $82,559, then $82,900. Michaël van de Poppe flagged $78,400 to $79,700 as the zone to watch if bitcoin loses $80,000. Reclaiming $82,559 would be the first sign of recovery. Figures differ slightly between data providers.
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Sources:
- crypto.news: Bitcoin price falls below $82K as spot ETFs see $635M in outflows
- CryptoTicker: Bitcoin price $81,568 after $431m liquidations
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