Bitcoin ETFs Turn October Positive With $1 Billion in Three Days While ETH Funds Bleed $1 Billion
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U.S. spot Bitcoin ETFs took in $524.8 million on Wednesday, October 21, their third big day in a row, turning October’s flows positive after a rough start as buyers came back into BTC USD.
Key facts
BTC sits about $1,000 above its 50-day exponential moving average (EMA) at $80,853, with the $80,410 support swing low below it
About $1.07 billion in three sessions: $526.6 million on Monday, $23.2 million on Tuesday, and $524.8 million on Wednesday
If ETF buying continues, BTC could reclaim $84,900 and move toward $87,220
However, rising oil prices and weaker ETF flows could push BTC below the 50-day EMA toward $76,179
Summary
How Much Have Bitcoin ETFs Taken In This Week, and Who Is Doing the Buying? Is Ethereum Falling Behind Bitcoin? BTC USD Price Analysis: Can a Billion Dollars of ETF Buying Keep Bitcoin Above $80,400? They hold $BTC at a cost basis of about $80K, and price has closed above it since September 18.