- Bitcoin ETFs lost 1,892 BTC in one week and over 10,000 BTC across two weeks, signaling weakening demand through investment funds.
- U.S. spot Bitcoin ETFs recorded $82.39 million in daily outflows on October 16, while Ethereum ETFs lost $69.68 million.
- Bitcoin’s MVRV fell below its historical 30th percentile after rejection near $87,000, placing its valuation in a historically lower range.
Bitcoin investment funds have recorded sustained outflows as demand weakens, while Bitcoin remains above $80,000 despite economic uncertainty. Analyst Darkfost reported that ETFs lost 1,892 BTC this week and more than 10,000 BTC over two weeks. Meanwhile, Bitcoin’s valuation has fallen below its historical MVRV 30th percentile after rejection near $87,000.
Bitcoin and Ethereum ETFs Record Fresh Outflows
On October 16, spot Bitcoin ETFs recorded $82.39 million in net outflows. BlackRock’s IBIT accounted for $71.78 million of that total. Spot Ethereum ETFs lost another $69.68 million, marking their third consecutive day of outflows. BlackRock’s ETHA accounted for all of that day’s net withdrawals.
Darkfost also reported that Bitcoin ETFs lost 1,892 BTC during the week. More than 10,000 BTC left these funds over the previous two weeks, indicating slower demand through this investment channel.
Kyle Chasse said spot Bitcoin ETFs recorded $614.7 million in net outflows during October’s first 12 trading days. However, Bitcoin remained above $80,000 after recovering from a dip below that level.
Economic Data Adds to Bitcoin’s Market Pressure
Chasse cited elevated consumer and producer price index readings alongside uncertainty about the Federal Reserve’s next move. He also referenced Grayscale data showing Bitcoin’s one-year volatility had fallen to 43%, below its 10-year average of 64%.
Chasse pointed to October 28 as a date to watch for further clarity on the Federal Reserve’s direction. The supplied figures show ETF withdrawals continuing despite Bitcoin holding above $80,000.
Bitcoin MVRV Falls Below Historical 30th Percentile
Darkfost reported that Bitcoin’s MVRV metric fell below its 30th percentile, measured at 25.7%, after rejection near $87,000. The metric compares Bitcoin’s market capitalization with its realized value, based on the prices at which coins last moved.
The percentile approach places the current reading within Bitcoin’s historical valuation range. Darkfost said Bitcoin has spent about 25% of its time at this valuation level. The analyst described the range as a recognized accumulation zone, although Bitcoin has moved out of the extreme undervaluation area historically associated with market lows.
The latest reading therefore follows a capitulation episode and places Bitcoin back within a lower historical valuation range.
