- According to Farside, spot Bitcoin ETFs had net withdrawals of around $1.23 billion from October 13th to the 17th.
- As per analysts, Bitcoin’s price has reached a critical juncture where a further decline might serve as a key warning signal.
The persistent bleeding of US-based spot Bitcoin ETFs after the latest crypto market crisis has analysts worried that Bitcoin might break through a critical support price level.
The $107,000 to $108,000 support zone is becoming more and more untenable due to the absence of institutional accumulation, according to many experts. This is especially true in light of the substantial net outflows that occurred after US President Donald Trump’s tariff decision earlier this month.
According to Farside, spot Bitcoin ETFs had net withdrawals of around $1.23 billion from October 13th to the 17th. The data shows that institutional investors are not currently engaging in major dip-buying, according to the experts. Two of the three trading days this week have experienced outflows; but, a robust influx on Tuesday has maintained the total net flows positive at $335.4 million.
As of this writing, Bitcoin is trading at $109,239 on CMC, after a short surge over $113,000 earlier in the week, followed by a swift retracement down below $110,000. According to analysts, Bitcoin’s price has reached a critical juncture where a further decline might “serve as a key warning signal” of a longer consolidation phase.
ETP Filings Await Pending Regulatory Clearance
With 155 exchange-traded product (ETP) files pending regulatory clearance, the crypto investing market is about to see an unparalleled boom. According to experts in the field, there may be more than 200 new crypto-linked funds, investing in 35 distinct digital assets, in the next 12 months.
According to Bloomberg ETF analyst Eric Balchunas, the surge is like a “total land rush.” He said that the filings volume shows how asset managers are racing to get into digital assets via regulated financial instruments.
At 23 apiece, Bitcoin (BTC) and Solana (SOL) are at the front of the pack in terms of filings, closely followed by Ethereum (ETH) at 16 and Ripple’s XRP at 20. With five applications, Litecoin (LTC) is one of the most talked-about tokens. Another three are Polkadot (DOT), Avalanche (AVAX), and Dogecoin (DOGE). The “Official TRUMP” token and other memecoins have made it into two proposed ETFs.
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