Spot Bitcoin ETFs See $484.9 Million Exit as October Turns Negative
Spot Bitcoin ETFs recorded their largest daily outflow since June, with withdrawals totaling $484.9 million amid pressure from oil prices and bond yields.
Investors withdrew a net $484.9 million from spot Bitcoin exchange-traded funds in one day, marking the biggest daily outflow since June, according to Decrypt.
The withdrawals came as Bitcoin’s October performance turned negative, disappointing expectations associated with the market’s informal “Uptober” label.
The report also pointed to broader economic pressures, with oil trading close to $100 and bond yields reaching levels last seen in 2002. It described the Federal Reserve’s interest-rate hiking cycle as unfinished.
Source: Decrypt
