Bitcoin ETFs Suffer $635M Outflow, Erasing Week’s $1B Inflow Gains

• Spot Bitcoin ETFs shed $635.5 million, the largest single-day outflow since June 25.
• Bitcoin slid toward $81,200 as $315 million in leveraged positions were liquidated.
• Market focus turns to $82,000 after Bitcoin dipped below its 50-day moving average.

U.S. spot Bitcoin exchange-traded funds (ETFs) posted $635.5 million in net outflows on Thursday, October 22, marking the most significant daily withdrawal since June 25.

The reversal follows a stretch earlier in the week where the funds attracted over $1 billion in inflows, raising questions about the durability of institutional demand after a brief price recovery.

Bitcoin Retreats as Liquidations Mount

Bitcoin failed to sustain its push toward $85,000 and dropped to approximately $81,200 on Thursday. The decline came after several consecutive days of ETF inflows exceeding $500 million.

The price action coincided with over $315 million in liquidated leveraged positions across the crypto market.

The broader financial market also retreated on Thursday. The S&P 500 fell 1.2%, while the Nasdaq Composite tumbled 2.6%, its steepest single-day decline since June. Technology and AI stocks led the selloff, while Brent crude oil prices climbed to a five-month high, amplifying concerns about sticky inflation.

Corporate Bitcoin Buyers Remain on the Sidelines

According to Glassnode analysis, corporate treasury companies holding Bitcoin on their balance sheets are “barely buying,” despite sitting on unrealized profits.

Glassnode estimates these firms hold BTC at an average cost basis of roughly $80,200. With the price closing above that level since September 18, the lack of continued accumulation could remove a potential source of demand support.

Traders Eye $82,000 Level After Technical Break

Crypto analyst Ted Pillows flagged a technical warning, noting Bitcoin recorded its first daily close below the 50-day moving average in over two months.

However, he maintained that the weekly structure remains constructive, adding that a close above $82,000 would help restore buyer control, according to a post on X on October 22.

Why This Matters

ETF flows serve as a primary barometer of institutional appetite for Bitcoin, and a sharp reversal can indicate shifting sentiment. With Bitcoin hovering near key technical levels and equities under pressure, flow data in the coming sessions will clarify whether Thursday’s outflow represents a temporary pause or a broader trend change.

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