Bitcoin (BTC) ETFs Shed $484.9 Million on Tuesday, Led by BlackRock's IBIT

Where the Withdrawals Concentrated

Bitcoin (BTC) came under fresh pressure on Tuesday as investors pulled $484.9 million out of US spot Bitcoin ETFs in a single session, the heaviest daily withdrawal from those funds since June 25. The Bitcoin (BTC) price slipped below the $83,000 support during the morning hours, closed the day near that line and carried the decline into a third consecutive down session; the close was the weakest in roughly 17 days. The flow figures cover Tuesday's session, October 7, and were compiled from the funds' official daily creation and redemption records. The outflows were concentrated in the largest products. BlackRock's IBIT alone shed $207.7 million, while Fidelity's FBTC lost $105.1 million and Ark Invest's ARKB $101.7 million. Combined, the three largest funds accounted for $414.5 million, or roughly 85% of the day's total. Grayscale's GBTC saw $39.3 million leave, Bitwise's BITB $27.6 million and VanEck's HODL $3.5 million. Six other funds, among them Grayscale Mini Bitcoin (BTC), Morgan Stanley's MSBT, Valkyrie's BRRR, Franklin Templeton's EZBC, Invesco's BTCO and WisdomTree's BTCW, recorded no net movement in either direction. Mechanically, a net outflow day means authorized participants redeemed more fund shares than they created, converting trust-held Bitcoin into sell orders; net creations do the opposite. On the tape, the morning break of $83,000 briefly extended below $82,200 before buyers steadied the market near $82,800, leaving the 24-hour loss close to 1.9% at that point. Recovery attempts stalled under $83,000 through the rest of the session. FxPro had cautioned ahead of the break that a decisive loss of $83,000 could hand sellers control and speed the move toward $80,000. Our live monitoring now reads $82,908, down 1.6% over the past day and only 0.1% below the level recorded when the flow figures were finalized early on Thursday (05:41 UTC).

Our composite support and resistance scoring frames the pullback. The strongest floor below the market sits at $80,879, where a cluster of indicators scores 92 out of 100, while the nearest ceiling, $84,066, carries 82 out of 100 and sits roughly 1.4% above the last reading. Positioning is not in retreat: open interest stands near $16.1 billion and long accounts outnumber shorts 1.82 to 1, so a decisive break of $80,879 would feed a heavier unwind than the current book implies. Momentum reads split the difference, with an RSI of 50.67 and a bearish MACD inside what our model still classes as an uptrend. The full level set is in our Bitcoin technical analysis.

Macro Pressure Met Dip Buying

The sell-off did not come from crypto alone. Reports that the White House asked the Pentagon to prepare a military strike plan against Iran lifted Brent crude roughly 2% back to $102 a barrel, and the US 10-year Treasury yield climbed to 5.31%, approaching levels last seen in 2002. Both moves raise the discount rate on risk assets; Bitcoin's two prior sessions of losses tracked the oil and yield climb. The weakness spread across majors: XRP fell about 4% to $1.42, Ethereum slipped near 3% to $2,570, Dogecoin lost roughly 3%, and HYPE and Solana each gave up more than 2%. Roughly $550 million in leveraged positions were liquidated on Tuesday, most of them longs opened through margin trading. The bond market is where the constructive case lives. Infrastructure Capital Advisors expects only one further rate increase from the Federal Reserve, in line with the officials' own projections and below what markets price. The firm's leadership notes 10-year yields typically run about 100 basis points above the level where past hiking cycles ended, and argues weak housing data and soft core inflation could convince the Fed to pause and steady yields near 5%. The rate-path debate sharpened after the FOMC minutes pointed to one more hike, the session that first took Bitcoin (BTC) under $83,000. Dip buyers did not disappear: analyst Murphy's order book work found Binance spot trading depth within 5% of price reached $80 million at one point as the market fell through $83,000, higher than during the September 10-16 correction and close to the levels that held at July's bottom. At $83,000, that band of buy-side liquidity stretched down to about $79,000, and the gap between market-order buying and selling widened in favor of buyers as the price fell, which in Murphy's reading does not point to a deeper slide. Supply overhang persists: the US government's $565.87 million transfer of seized Bitcoin to Coinbase Prime, covered here as it cleared, kept sellers in the picture. Institutional plumbing kept advancing underneath the selling, with Wells Fargo in talks with Kraken parent Payward over Bitcoin trading liquidity. Even so, the dip-buying conditions have held since Tuesday's first test of $83,000: three consecutive lower closes so far, and the $80,879 floor still untested.