The recent reduction in fuel prices followed President Donald Trump’s Friday declaration that his administration had finalized an agreement for Russia to provide 300,000 metric tons of diesel to international and domestic markets, constituting a partial alleviation of U.S. sanctions on Russian oil imports.
Trump further claimed that Moscow and Kyiv had consented to an immediate “energy ceasefire” designed to halt infrastructure attacks; however, Ukrainian officials stated they were not consulted, and Russian strikes on Ukraine’s energy grid have continued unabated.
Nevertheless, analysts maintained their focus on the negative ETF flows.
Data from SoSoValue indicates that U.S.-listed spot Bitcoin ETFs experienced a $681 million outflow last week, marking the largest exodus since June, predominantly occurring on Wednesday and Thursday.
“ETF flows remain volatile. US spot Bitcoin ETFs saw heavy outflows on October 7 and 8, signaling cautious institutional sentiment,” Vikram Subburaj, CEO of the India-based Giottus Exchange, told CoinDesk.
Mashru likewise acknowledged the outflows while underscoring the demanding global macroeconomic backdrop. “Treasury yields reached 24-year highs during the week ending 9 October,” he stated.
Both experts highlighted $82,000 as a pivotal support level that bulls must defend to avert steeper losses, identifying the Oct. 14 U.S. inflation data as the upcoming primary macroeconomic catalyst.