Overview
- U.S. spot Bitcoin ETFs recorded roughly $635.5 million of net outflows on Thursday and about $137.9 million on Friday, producing a rapid withdrawal of institutional liquidity over two trading days.
- Short‑term leveraged positions accelerated the move lower with CoinGlass reporting about $239.65 million in Bitcoin liquidations and roughly 93% of those closures coming from long bets.
- Price action pulled Bitcoin down from the mid‑$80,000s to repeatedly test the $79,658–$80,000 support band and it was trading near $80,500 on Oct. 24.
- Rising Brent crude above $110–$117 and geopolitical risks have increased caution ahead of the Federal Reserve’s Oct. 27–28 meeting and U.S. GDP and PCE data due Oct. 29, which are the next major catalysts.
- Glassnode data shows realized profit‑taking has slowed to about half September’s pace, ETF trading hours prevent U.S. holders from selling over the weekend, and that delay could magnify moves when trading resumes on Monday.