BlackRock's IBIT Draws $665.2 Million in Bitcoin (BTC) ETF Flow Reversal

Update 07:14 UTC: On-chain context adds a floor to the picture, with these readings landing later than Monday's $83,155 peak on Binance.

IBIT Carries the $665.2 Million Turn

US spot Bitcoin (BTC) ETFs swung back to net inflows on Monday, taking in $526.7 million in their largest single-day intake since Sept. 22, when the cohort pulled $714.7 million. The Bitcoin (BTC) price did not keep up: the coin's Binance price history shows a Monday peak of $83,155 and a close of $81,938, about 0.22% lower on the day, and it now trades near $81,800, barely changed since. BlackRock's iShares Bitcoin Trust (IBIT) carried the session on its own, absorbing $665.2 million, a figure larger than the whole group's net total. Two rivals worked against it: Fidelity's Wise Origin Bitcoin Fund (FBTC) shed $83.6 million and Grayscale Bitcoin Trust (GBTC) lost $54.9 million, while every other fund sat flat. Daily flow disclosures tracked by Farside Investors, which compile the issuers' creation and redemption filings, carry the breakdown. Because these products operate through spot trading, buying the coin directly rather than through futures, a creation day of this size usually reaches the market as fresh orders, and the gap between $526.7 million in and a flat close is what this session leaves to explain.

On-chain context adds a floor to the picture, with these readings landing later than Monday's $83,155 peak on Binance. Bitcoin (BTC) spent last week outperforming US tech: analyst Ash Crypto noted the coin closed that week down about 2% while holding $80,000, against a 5% Nasdaq drop and an 11% slide in the semiconductor index. As of the latest Glassnode reading, taken by 15:50 UTC, the aggregate spot ETF cost basis sits near $81,500, and the coin has since climbed back above that line after slipping below it last week, meaning the fund cohort's average coin position is back in profit. The 50-week moving average, measured on the later reading, sits near $76,100, with five straight weekly closes above it, and Glassnode marks $88,000 as the cost basis of six-to-12-month buyers, a daily close above which, alongside renewed ETF inflows, would show buyers absorbing that supply.

@AshCrypto · X post

Noted.

View on X

October Ledger Still Underwater

The backdrop makes Monday's figure stand out. Weekly Bitcoin ETF flows had turned negative in each of the previous two weeks: roughly $229 million left last week on top of $681 million the week before, and Oct. 7 alone saw $483.9 million walk out the door, the heaviest daily withdrawal since June. Friday's session on Oct. 16 added another $82.4 million in net outflows, the exact hole Monday's intake filled and exceeded. Even so, the month is not repaired. After Monday's session the cohort remains about $88 million negative for October as a whole, so one strong day has offset only a fraction of the pressure. The mechanics matter when reading the tape: these funds issue shares against coins held in custody, and our primer on how spot Bitcoin ETFs work explains why a creation-heavy print does not always hit the order book one-for-one, since execution, hedging by authorized participants and liquidity all sit between the flow figure and the market.

Resistance Cluster at $84,404

Our own level map frames where the coin stands now. Spot sits at $82,924.47 at the time of writing, up 1.00% across 24 hours. Below, the strongest support reads $81,366.80 and scores 91 out of 100, a shelf that leans on the 0.236 Fibonacci retracement alongside the 50-day moving average, the S1 pivot and the Ichimoku cloud top. Above, $84,384.22 carries an 88/100 as the heaviest resistance. Momentum is tepid in between: the relative strength index prints 51.36, the MACD signal is bearish, and the broader trend still grades as an uptrend. Positioning leans long, with perp funding at 0.0056% and open interest near $16.29 billion, while 62.2% of accounts sit long and the Fear & Greed index reads 55, in greed territory. The full ladder of levels sits in our Bitcoin technical analysis. Either a close through $84,384.22 or a break of $81,366.80 would force a rewrite of the near-term picture (as of 21:28 UTC).

Altcoin ETFs Keep Leaking

The split ran through the rest of the board too. Ether funds kept their exit streak, and the altcoin side of the market offers an even sharper contrast: Solana products shed $6.7 million in total, with Bitwise's BSOL at $4.9 million and Fidelity's FSOL at $1.8 million, while Grayscale's Zcash vehicle lost $10.4 million, its second heavy day after $14.8 million left on Oct. 15. The Hyperliquid ETF recorded no net movement at all. Add the markets together and Bitcoin (BTC) did all the lifting: combined net inflows across the five tracked digital-asset ETF markets came to $406.3 million, meaning Bitcoin's intake covered every other asset's withdrawals and then some. Solana funds have logged net outflows on most October trading days, and the Zcash product has leaked repeatedly through the month. None of these vehicles showed anything resembling the demand that hit Bitcoin's funds on Monday.

The wider backdrop around Monday's print gained two new readings. Barchart data shows Bitcoin's daily Bollinger Bands have narrowed to among the tightest ranges of the past two and a half years, a squeeze that in the past has often preceded a sharp move, though the indicator alone does not say which way the break runs. On the institutional side, JPMorgan Asset Management included Bitcoin in its long-term capital market assumptions for the first time on Oct. 19, projecting a 10% annualized compound return over the next 10 to 15 years with 55% annualized volatility and an arithmetic mean return of 20.9%. The same report set expectations for US large-cap equities at 7.5%, gold at 5.5% and US REITs at 8.2%, and Bitwise investment chief Matt Hougan read the inclusion as a shift in traditional finance's stance toward crypto.

Ether's Fourth Straight Day Out

Ether's ledger is the cleanest read on the divergence. Spot Ether ETFs have now posted net outflows four trading days in a row, and Monday's exit was broad rather than concentrated in one product: ETHA gave up $95.4 million, Fidelity's FETH $5.96 million and Grayscale's ETHE $1.92 million. The weekly record is no kinder. Ether funds shed about $320 million last week, a third consecutive week of net withdrawals, after daily losses of $160.9 million on Oct. 7 and $129.5 million on Oct. 14, with only a one-day inflow of $24.8 million on Oct. 13 interrupting the run. Set the two markets side by side as the session closes: Bitcoin's funds took in $526.7 million while the coin itself finished Monday at $81,938 and now sits near $81,800, effectively flat, whereas Ether's outflow streak continues with nothing comparable coming in. The two series, money and price, still do not point the same way on the Bitcoin side, and whether Monday's demand carries into a second session is the next data point for both.