Bitcoin ETFs See $5.06 Million Net Inflow as Bearish Expectations Rise

In the U.S., spot Bitcoin ETFs recorded a net inflow of $5.06 million on October 15, following a one-day break. However, this inflow is significantly lower than the $261.46 million outflow from the previous day. Only BlackRock's IBIT fund recorded a net inflow, while Grayscale's Bitcoin Mini Trust saw an outflow of $7.64 million and Invesco Galaxy's BTCO fund experienced an outflow of $4.09 million. In the Bitcoin derivatives market, bearish expectations have strengthened. The funding rate for Bitcoin perpetual futures on Binance dropped to -0.0073. A negative funding rate indicates that those taking short positions are paying those expecting a rise. Darkfost noted that the U.S. consumer and producer inflation data exceeding expectations has raised concerns about the Fed increasing interest rates. Bitcoin experienced a sharp pullback after rising above $87,000. Darkfost identified $80,000 and $74,000 as critical support levels, emphasizing that investors should monitor movements at these levels.

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