US spot Bitcoin exchange-traded funds drew $526.6 million in net inflows on Monday, October 19, marking their largest single day since September 22, when they recorded $714.75 million in inflows.
The inflow provided relief after October began weakly. Prior to Monday, Bitcoin ETFs had accumulated net outflows of $617.17 million for the month. The single-day inflow reduced that deficit to $90.57 million.
BlackRock's IBIT Leads While Other Crypto Funds Decline
BlackRock's iShares Bitcoin Trust (IBIT) was the only Bitcoin fund to record a net inflow, according to SoSoValue data. None of the other 11 Bitcoin ETF products posted inflows on the day.
The Monday gains reversed the prior week's performance. Between October 13 and 16, Bitcoin ETFs saw a net outflow of $163.18 million.
Other crypto ETF products moved in the opposite direction. Ethereum funds shed $103.28 million while Solana products lost $6.72 million on Monday. Ethereum ETFs have posted net outflows on 14 of the last 15 trading days, totaling $1.12 billion in outflows.
Bitcoin Price and Technical Levels
Bitcoin closed the week ending October 19 down approximately 2%, holding above the $80,000 level. Over the same period, the Nasdaq declined 5% while the semiconductor index fell more than 11%.
For October, Bitcoin is down 1.75% since the month began, following a 42.71% gain in the third quarter. At the time of publication, Bitcoin traded at $82,060, down 0.44% over the previous 24 hours.
Bitcoin has traded above its average entry price for US spot ETFs, estimated at $81,500. The asset has closed above its 50-week moving average for five consecutive weeks, with that average positioned near $76,100.
