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U.S. spot crypto ETFs posted a strong session on October 21, with Bitcoin funds pulling in $528.40 million and Ethereum products adding $14.96 million, according to SoSoValue data.
The green numbers stand out against BTC’s price chart. Bitcoin price slipped from near $84,900 to around $81,650 over the same stretch, so institutional buyers and short-term traders appear to be pulling in different directions.
Crypto ETFs Draw $528M Into Bitcoin as BlackRock’s IBIT Leads With $235M
BlackRock’s iShares Bitcoin Trust (IBIT) did most of the heavy lifting on Wednesday, taking in roughly $235 million of the $528.40 million total.
The daily figure follows a $526.60 million inflow on October 19 and a smaller $23.16 million on October 20.
That brings cumulative net inflows for U.S. spot Bitcoin ETFs to $57.96 billion, up from $56.88 billion at the close of last week.
Bitcoin ETFs lost $681.10 million in the week ending October 9, with a single-day outflow of $487.07 million on October 7.
The following week added another $228.58 million in net withdrawals, including a $261.46 million exit on October 14.
For crypto ETFs as a group, the flow data suggests the selling wave from early October has cooled, at least on the Bitcoin side.
Ethereum ETFs Add $14.96M as Grayscale’s Mini Trust Leads
Ethereum funds finally broke a losing streak, giving crypto ETFs a rare day where both major products closed green.
Spot Ether ETFs recorded $14.96 million in net inflows on October 21, led by Grayscale’s Ethereum Mini Trust (ETH) with $28.07 million.
Before Wednesday, Ethereum ETFs had five straight days of outflows totaling about $388.82 million, including $129.51 million on October 14 and $103.28 million on October 19. October 13 was the only other green day this month.
Cumulative net inflows for Ether products now sit at $12.83 billion, down from $13.84 billion at the start of October. Even with Wednesday’s gain, Ethereum ETFs remain about $114 million in the red for the week.
BTC Price Analysis: Can Bitcoin Build on Strong ETF Inflows?
On the 1-hour timeframe, BTC trades near $81,650 after a rejection close to $84,898, and short-term sellers have held control through the pullback.
The first hurdle sits at $82,000 to $82,300. Above that, Bitcoin faces heavier resistance between $83,000 and $83,500, then again from $84,000 to $84,900.
On the downside, immediate support rests around $81,300 to $81,500, with a deeper floor at $80,000 near the recent low of $79,800.
The technical readings lean bearish. The RSI reads roughly 25 to 37, with some readings in oversold territory. That leaves room for a relief bounce, but it does not confirm a reversal.
Bitcoin Price Prediction: Could Rising Demand for Crypto ETFs Push BTC Higher?
Three situations stand out from here. If BTC breaks below $81,300, the price could slide toward $80,000 and possibly retest the $79,800 low.
A neutral case would see Bitcoin chop between $81,300 and $82,300 while sellers lose steam and buyers regroup.
The bullish case needs a move above $82,300, which could push it to $83,000 and $83,500. Reclaiming the $84,000 to $84,900 zone would give the recovery real weight.
For now, the short-term outlook stays bearish. BTC needs to hold $81,300 and win back $82,000 to $82,300 before traders can treat the inflows as fuel for a rebound.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency prices carry substantial volatility and potential capital losses. Readers should conduct independent research before making investment decisions.
