Bitcoin ETF Sees $1.2B Outflow as BTC Price Crashes, What’s Next?

The US Spot Bitcoin ETF has recorded a significant outflow of over $1.2 billion this week, which has spooked the market participants.

Current BTC price crash, which took the asset’s price to as low as $103,500, has already weighed on the market sentiment.

Amid this, the current Bitcoin ETF data further suggests that the institutions are also shifting their focus alongside the retail traders.

However, it’s worth noting the latest Bitcoin news update, wherein BTC price has recorded some recovery, after Donald Trump shifted his tone on China tariffs.

The geopolitical tensions have triggered massive selling pressure across the financial markets, let alone the crypto space.

Donald Trump threatens to impose 100% tariffs on Chinese products, which has caused the widespread selloff in the market.

As a result, the crypto market saw its historic crash, which wiped out billions of dollars in the prior week.

Despite that, the market has recovered from Friday, as the US President hinted at a dovish stance on its tariff decision.

So, here we explore the latest BTC USD price performance and see what may lie ahead for the flagship crypto.

BlackRock Triggers Bitcoin ETF Outflow

The US Spot Bitcoin ETF has recorded massive outflow this week, indicating waning risk-bet appetite of the institutions.

Even BlackRock appears to have taken a cautious stance, as evidenced by the recent outflow from IBIT.

According to Farside Investors’ data, the Bitcoin ETF recorded an outflow of $1.22 billion this week.

Among the five trading days, four days were in the red, with only one day of inflow totaling $102.7 million.

The data showed that on October 17, the outflow into the investment instrument totaled $366.6 million.

The highest fund flow was recorded on October 16, when the overall outflow came in at $530.9 million.

It’s worth noting that BlackRock’s Bitcoin ETF (IBIT) has also been aggressively selling since October 14, while on October 17, the outflow was $268.6 million.

The market pundits have cited these negative fund flows as a potential reason behind the dip in Bitcoin price.

Bitcoin News: Price Slips, “Uptober” Sentiment at Risk

The aggressive selling pressure in Bitcoin price and the broader crypto market has also impacted the “Uptober” sentiment.

For context, digital assets, especially BTC USD price, tend to deliver robust gains in October and through the final quarter of the year.

However, the recent selloff reported in Bitcoin news, fueled concerns, as BTC price has lost nearly 6% already this month.

On the other hand, the average return for Bitcoin USD in October is around 46%, CoinGlass data showed.

During writing, BTC price added nearly 2% in the last 24 hours and hovered near the $107k level.

Notably, the crypto has touched a 24-hour high of $107,541, recovering from the daily low of $104,666. The weekly decline comes in at 5%, while the 30-day chart shows a plunge of nearly 9%.

This gloomy data, alongside the massive outflow from the US Spot Bitcoin ETF, has raised questions about the potential future movements of the flagship crypto.

What Lies Ahead for Bitcoin Price?

In recent Bitcoin new, the volatile scenario has left investors questioning the future path of BTC. Besides, it might also shed some light on how the altcoins might perform in the near future, as the BTC peers tend to follow Bitcoin USD’s trajectory.

Amid this, renowned analyst Michel van de Poppe said that BTC USD price must break through the $110k mark to continue its upward trajectory.

Breaking the wall could trigger another rally to a new all-time high for the asset.

On the flip side, the analyst has highlighted $105,797 as a major support for the crypto. His chart hints at a looming Bitcoin price crash to $100k if the support is broken.

Echoing a similar sentiment, analyst TedPillows highlights the recent struggle of the asset to reclaim the $108k-$109k support.

According to the expert, reclaiming support remains crucial for the crypto to avoid a further dip.

He noted that breaking through the level could boost the market confidence, potentially aiding BTC price to reach $112k. However, if it fails to reclaim the $108k level, a looming crash to $100k awaits.

So, looking at the current struggle of the asset and the continuing outflow into the Bitcoin ETF, the investors should exercise due diligence while putting their bets into BTC.