Bitcoin ETFs Record $102M Inflows As BTC Flips $85K
Bitcoin spot exchange-traded funds recorded $102 million in net inflows to begin October, reversing previous losses, according to AMBCrypto. Data indicates that while five funds experienced a combined $24 million in outflows, larger allocations into other major funds offset the decline.
BlackRock’s IBIT drew $195 million, Grayscale’s GBTC recorded $14 million, and Morgan Stanley’s MSBT added $7 million. This renewed institutional interest helped lift daily net flows into positive territory following a prior session that posted $148 million in net outflows. AMBCrypto noted that the influx of capital supported a broader market recovery.
The renewed accumulation coincided with Bitcoin climbing roughly 3% to reach a weekly high near $86,912, successfully flipping the $85,000 threshold. Exchange metrics also reflected the shift, with spot netflow dropping to negative levels as supply left exchanges.
Market analysts observe that sustained ETF inflows historically support broader price momentum. While directional indicators currently lean bullish, market momentum remains relatively weak as technical metrics trace lower highs. Sustained capital inflows could push Bitcoin toward targets at $88,000 and $90,000, while failure to maintain the $85,000 level risks a pullback toward $82,000.
Based on reporting by ambcrypto.com.
