Bitcoin ETFs See $484.9M Pulled in a Day, Pushing October Flows Into the Red

U.S. spot Bitcoin exchange-traded funds saw $484.9 million in net outflows on Wednesday, the largest single-day withdrawal since June 25, according to Decrypt's ETF tracker. BlackRock's iShares Bitcoin Trust (IBIT) led the selloff with $207.7 million in outflows, followed by Fidelity's Wise Origin Bitcoin Fund (FBTC) at $105.1 million. The drawdown wiped out roughly 81% of the net inflows accumulated over the prior nine sessions—about two weeks of buying. Even so, the group still shows $57.8 billion in cumulative net inflows. For October through the 7th, the funds are now down $163.3 million on a net basis. The month began with $321.6 million of inflows over four sessions. Halloween is 23 days away. Market participants tied the selling more to macro conditions than crypto-specific catalysts. The 30-year Treasury yield rose to about 5.7% on Wednesday, its highest level since 2002. Brent crude settled near $100 a barrel, while equities pulled back from record highs. Shipping near the Strait of Hormuz has faced at least one attack per day since October 2, a factor supporting elevated oil prices. Higher energy costs can feed inflation, keeping the Federal Reserve focused on restrictive policy and sustaining higher bond yields. Bitcoin offers no yield, while the 10-year Treasury is paying more than 5%, a comparison institutions regularly weigh when allocating risk. The Federal Reserve raised interest rates in September for the first time since 2023. Minutes from the latest meeting, released Wednesday, indicate most officials still expect another hike before year-end. Traders remain less convinced: CME FedWatch implies a 19.4% probability of an October increase, while Myriad puts the odds at 17%. The Fed's next meetings are scheduled for October 27–28 and December 8–9. The September minutes did not specify a date for any additional hike. Bitcoin slid to as low as $81,749.83 on Thursday, about 6% below the $86,978 high hit earlier in the week. CoinGlass reported roughly $429 million in derivatives liquidations over the past 24 hours, with longs making up 87.5% of the total. Bitcoin's six-year run of October gains ended in 2025, when the asset fell 3.69% for the month.