The spot Bitcoin (BTC) exchange-traded fund (ETF) saw a significant outflow of about $13.99 billion, marking the fifth consecutive day of decline as of October 20th.
Grayscale’s GBTC suffered particularly severe losses, with a daily outflow of $531,000, while Bitwise ETF (BITB) also faced an outflow of $315,000.
In contrast, BlackRock’s IBIT ETF saw an inflow of $15,000.
The Bitcoin exchange-traded fund has seen capital outflows for five consecutive days. The total outflows on October 17th and 18th were $1.459 billion and $1.522 billion, respectively, and the market was closed on October 19th for a holiday.
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Most optimistic scenario for Ethereum price
Now everyone is eyeing the potential catalyst of the U.S. private sector PMI released on October 21st as a potential game changer. If the data shows that the Federal Reserve (Fed) may cut interest rates in October, it could prevent further capital outflows.
