TREE NEWS reports: US spot BTC ETFs saw $679 million in net outflows last week, including a record $485 million single-day outflow on Wednesday, the largest since June, CoinShares said in its biweekly market report. ETH ETFs bled $542 million over nine straight sessions, nearly $700 million cumulatively. Bitcoin briefly neared $87,000 on October 5 before falling to about $80,300 and rebounding to roughly $83,500. CoinShares said BTC’s correlation with the Nasdaq has recovered to its long-term average of about 40%, and flagged this week’s US CPI print as a key variable.
CoinShares: BTC ETF Shed $679M Last Week as Bitcoin-Nasdaq Correlation Rebounds to 40%
Related Coin Charts
AI take
The record single-day BTC outflow, paired with ETH's nine-session losing streak, points to a broad-based ETF retrenchment rather than a rotation between the two assets. The more telling detail is the correlation rebound to roughly 40%: it suggests macro sentiment, not crypto-native catalysts, is currently driving flows, which narrows the set of variables that matter. Whether that correlation holds through the CPI print — and whether ETH's streak finally breaks — is the open question.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.
Related News
2m ago
India Central Bank Ready to Act Further to Curb Rupee Speculation, Governor Says
4m ago
India, US Officials ‘Working Through’ Trade Deal Talks, Jaishankar Says
7m ago
Saudi Cabinet Warns Houthi Strikes Will Bring Consequences
9m ago
Saudi Airstrike Hits Oil Facility in Houthi-Held Sanaa; Houthis Vow Retaliation
19m ago
Goldman CEO Solomon: No Succession Plan in Place, Bank Sees AI Financing Opportunity
20m ago
German January Power Price Tops €200/MWh