Bitcoin ETFs Suffer Significant Outflows as Price Reaches New High

Bitcoin ETFs experienced significant outflows in October, with a net loss of $24.4 million on October 1. This decline was led by GBTC, which saw withdrawals of -$31.4 million against Bitcoin inflows of +$14.6 million.

The custody wallets also shed 1.8K BTC worth roughly $150.2M in the prior 24 hours.

Despite these outflows, the price of Bitcoin remains strong, currently at $84,886.08 and testing the upper Bollinger Band resistance at $84,939.85.

The technical indicators suggest a bullish trend, with the MACD golden cross at 186.21 indicating trend strength intact, while the neutral RSI at 60.55 leaves room for continuation toward higher targets before any pullback to the 50-EMA.