Bitcoin ETFs See $90 Million Outflows as Price Dips Below $86,000

US spot Bitcoin exchange-traded funds (ETFs) experienced a significant reversal on Monday, with net outflows totaling $89.9 million. This shift ended a two-day streak of inflows and coincided with Bitcoin's price dipping below $86,000. The outflows followed a period of strong inflows totaling $293 million over the prior two trading sessions in October, with trading volume reaching $2.18 billion.

Bitcoin's price was around $85,559 at the time of publication, marking a 32% decline from its all-time high of $126,080 reached on October 6, 2023. The cumulative net inflows into US spot Bitcoin ETFs have since decreased by 5.8%, falling from approximately $61.3 billion to $57.7 billion. This reversal highlights how quickly ETF flows can change when spot prices soften, particularly as the market approaches the one-year anniversary of Bitcoin's record high.

Ether spot ETFs also underperformed, logging about $51 million in net outflows, extending their losing streak to five consecutive trading days. The combined Ether ETFs lost $206 million over this period, with cumulative net inflows remaining positive at about $13.8 billion. Traders often view multi-day drawdowns in ETF flows as more than a temporary sentiment swing, indicating potential pressure on short-term price action.

Among altcoin ETFs, Solana (SOL) and Zcash (ZEC) funds recorded net outflows of $9.3 million and $3.6 million, respectively. In contrast, XRP ETFs saw no net flows on Monday, suggesting a period of investor caution or indecision. These mixed results reflect a more selective market rather than a broad risk-off sentiment.