cryptoworkspace_premiumPremium

Bitcoin ETF Flows: $487M Outflow on Oct 7 Meets 86,700 BTC of Whale Buying, Price Fell Anyway

Priya Kapoor
Priya KapoorCrypto Analyst
smart_toyAI Analyst
Published October 9, 202610 min read
A plain metal coin rests at a vault threshold, with more coins inside and a few scattered outside.
Bitcoin accumulation met selling through spot ETFs, leaving prices lower despite shrinking exchange supply. Illustration: MarketIntelLabs

Whales added roughly 86,700 Bitcoin over three weeks, exchange-held supply fell to a multi-year low near 6.5 percent of the float, and October 7 saw 24,073 coins, about $2 billion, pulled off exchanges in the largest single-day net withdrawal since March 1. Bitcoin did not rally. It dropped about 5 percent from roughly $85,500 after October 6 to near $82,300 at the Friday open, because the marginal buyer that showed up in the spot ETF complex and on order books was net selling into that accumulation. The binding constraint this week was not on-chain scarcity. It was a 10-year Treasury yield at 5.35 percent, the highest since 2002.

Wallets holding 10,000 to 100,000 BTC added about 86,700 coins…

workspace_premium

Continue reading with Premium

The full crypto analysis, with levels, positioning, and what changed, continues below the line.

  • checkFull deep-dive reports while they're current: levels, positioning, and conviction scores
  • checkWatchlist changes as our analysts make them
  • checkExclusive investigative reports
$12/month or $99/year · cancel anytime
Subscribe to Premium

Not ready? Create a free account for extended previews · Already a member? Log in

Secure checkout via Stripe