Sharp $773 Million Outflow from Bitcoin Funds in 2 Days

Weekly net inflows into US spot Bitcoin exchange-traded funds (ETFs) reached $301.2 million, but selling of $773.5 million seen in the last 2 trading days halted the upward momentum. Farside data showed that funds gathered approximately $1.07 billion in the first 3 days of the week. With the wave of selling that spread across the market on Thursday and Friday, the Bitcoin price dipped below the $80,000 mark over the weekend, pulling back to the $80,600 level. The intense price pressure brought institutional investors' cost thresholds to the center of the market.

Strong demand for funds stood out in the first half of the week. Investors channeled $526.7 million into funds on Monday, $23.2 million on Tuesday, and $524.8 million on Wednesday. The iShares Bitcoin Trust, operating under BlackRock, reached its highest daily level since October 2025 with Monday's inflow of $665.2 million.

The positive market sentiment deteriorated with an outflow of $635.6 million on Thursday. On Friday, net sales of $137.9 million were also added to the tally. Although iShares Bitcoin Trust ended the week with $565.7 million in net inflows, it lost $364.4 million over the last 2 days.

Shares of industry leader BlackRock fell 1.67% at the close of the October 23 session, bringing the company's total market capitalization to approximately $173 billion.

Where is the critical cost support in Bitcoin funds?

According to data from Coinbase Institutional, the $80,000 to $82,000 range serves as key support in the market. This critical corridor brings together exchange-traded fund investors' average cost of $81,300 with the 50-day moving average at $81,700. The average cost level represents the breakeven point on the institutional side. If the price remains persistently below this level, it carries the risk of investors selling to stop losses.

What level could institutional selling drag the price to?

Coinbase Institutional calculates that if the $80,000 threshold is breached, losses could deepen to the $73,000 to $75,000 band. In the market structure, direct purchases by corporate treasuries have given way to fund movements. While corporate treasuries purchased $14.5 billion worth of Bitcoin in the first half of 2026, purchases in recent weeks have dropped to limited amounts expressed in the hundreds.

Since August, funds have pulled $6.4 billion from the market, while corporate purchases remained at $1.5 billion. Developments on the macroeconomic front are also dampening risk appetite. US producer prices increased by 1.3% monthly in September, posting the sharpest surge since March 2022.

This increase rekindled expectations of an interest rate hike in December. Amid continued pressure on the crypto market, net outflows of $220.7 million also occurred from Ether funds throughout the week.

This content is for information purposes only and does not constitute investment advice.