Bitcoin price tests support as spot BTC ETFs see outflows
The post Bitcoin price tests support as spot BTC ETFs see outflows appeared on BitcoinEthereumNews.com.
Bitcoin price slipped lower on Oct. 16, testing key support around $111,000 as spot Bitcoin exchange-traded funds swung back to net outflows after a brief return to inflows. Summary Bitcoin trades around $111K as BTC spot ETFs record $94M in outflows. Trading volume and derivatives activity signal cautious sentiment. Dovish Fed tone offers hope for renewed upside momentum. As of this writing, Bitcoin was trading close to $111,673, down 8% over the previous week and 0.5% over the previous day. Trading volume has fallen sharply to $66.2 billion, a drop of more than 27% in a single day, suggesting that market participation is thinning CoinGlass data shows that Bitcoin (BTC) open interest decreased slightly to $72 billion, while derivatives volume dropped 35.5% to $92.5 billion. This combination typically indicates that traders are closing leveraged positions and waiting for clearer signals before re-entering the market. Spot BTC ETF outflows signal renewed caution According to SoSoValue data, U.S. spot Bitcoin ETFs recorded $94 million in net outflows on Oct. 15, led by Grayscale’s GBTC with $82.9 million withdrawn. Invesco and BlackRock followed with smaller outflows. After nine straight sessions of inflows, ETFs saw their first major redemptions on Oct. 13. The latest reversal followed net inflows of $102.6 million on Oct. 14, indicating that institutional appetite is still hesitant. BTC options market flips bearish Data from Greeks.live shows a notable rise in short-term bearish activity in the Bitcoin options market. With strike prices ranging from $104,000 to $108,000, put options made up 28% of all trading volume. Since longer-term metrics are neutral and traders are hedging against short-term downside, this indicates temporary caution rather than a structural bearish shift. Bitcoin options–market data indicate that over the past 24 hours, the share of bearish trades has risen markedly. More than US$1.15 billion, or about 28 %…
