$773.5 Million Leaves Spot Bitcoin Funds After Strong Inflows for Three Sessions
Key Facts
U.S. spot Bitcoin funds recorded $773.5 million in outflows over the Oct. 22 and 23 sessions, after taking in strong inflows in the three preceding sessions, according to data from Farside Investors and a report by InvestingLive. Inflows totaled $526.7 million on Oct. 19, $23.2 million on Oct. 20 and $524.8 million on Oct. 21. Then $635.6 million flowed out on Oct. 22, followed by outflows of $137.9 million on Oct. 23. InvestingLive described the shift as a move from about $1.07 billion in inflows over the first three sessions to $773.5 million in outflows over the final two. Despite the reversal, net flows for the week remained positive, based on a comparison of the daily figures reported by the two sources.
The largest wave of outflows came on Oct. 22, when the funds saw $635.6 million withdrawn, the highest daily outflow total since June, InvestingLive reported, citing preliminary Farside data. Outflows fell to $137.9 million in the following session, but left the two-day trend negative. By contrast, the three preceding sessions saw a wide range in demand, from $23.2 million on Oct. 20 to $526.7 million on Oct. 19 and $524.8 million on Oct. 21. IBIT recorded inflows of $665.2 million on Oct. 19, its largest daily inflow since October 2025, according to InvestingLive. The figures show the fund attracted large sums at the start of a week that later saw outflows across the funds as a whole.
The monthly picture extended beyond the two-session swings, with U.S. spot Bitcoin funds still at net outflows of about $313.5 million in October through Oct. 25, according to an InvestingLive report. That meant early-week inflows had not erased the negative monthly total by that date. The change in flows coincided with a decline in Bitcoin closing prices recorded in EL7 data, from $81,189.43 on Oct. 23 to $80,888.16 on Oct. 24. The cryptocurrency then closed at $80,154.09 on Oct. 25 and $80,108.39 on Oct. 26. The latest closes were therefore below the Oct. 23 close, alongside a shift in fund flows from inflows to outflows at the end of the week.
In the context of price movements, a Glassnode report said the lowest hourly close during the Oct. 15 decline was $80.1 thousand, and the next hourly close moved back above the funds’ cost basis. The report also put the average cost basis of active investors near $77.6 thousand, below the closes recorded on Oct. 25 and 26. It identified a major sell-offer cluster between $86.5 thousand and $87.5 thousand. These levels provide context for price action around the cost-basis and sell-offer ranges tracked by Glassnode, while daily fund flows remained volatile during the week. In separate data on October events, Bitfinex reported that U.S. core inflation rose 0.3% month over month in September, exceeding a forecast of 0.2%, while headline inflation rose 0.6% month over month and 3.7% year over year.
Bitfinex said the yield on 10-year U.S. Treasuries rose 9.3 basis points to 5.31% after the inflation data, while the two-year yield gained 13.1 basis points to 4.92%. The report added that Bitcoin fell from $84,029 before the data release to $82,401 within an hour, then reached $80,210 in early Asian trading on Oct. 15. It estimated that 909 thousand Bitcoin, bought between $81,300 and $84,000, were at a loss at the $81,300 level, and that the share of circulating supply in profit fell to 67.1%. Looking ahead, the Federal Reserve meets on Oct. 27 and 28 and will issue its decision on Oct. 28. The meeting comes after a wave of fund outflows and closes below Oct. 23 levels, while IBIT shares closed at $45.96 that day, according to EL7 data.