Bitcoin wallets holding 1+ BTC drop by 14,000 as ETF inflows hit $3B
- —Wallets holding 1+ BTC fell by 14,000, from ~985,000 to ~971,000 in two weeks
- —U.S. spot bitcoin ETFs took in ~$2.9 billion from Sept. 17-30
- —Another $134.4 million flowed into ETFs in the first two days of October
- —Odds of a Fed pause on Oct. 28 rose to 85% after a weak NFP report
Why it matters: The gap between institutional ETF demand and selling by smaller holders helps explain why BTC failed to hold $86,000.
Source: CoinDesk Japan
More on this
Markets · Sep 30Bitcoin holds above $83,400 as ETF inflows stretch to nine days, futures demand drops 90%
Markets · Sep 28Ethereum holds $2,652 as ETF inflows hit $834M; traders still target $3,000
Markets · yesterdayWeekly Recap: Bitcoin Holds Near $84,500 as ETF Inflows and Rate Hopes Lift Crypto