Bitcoin Drops 4% This Week as $702M ETF Outflows Threaten 'Uptober'
- —Spot Bitcoin ETFs saw $702.23 million in net outflows over four days, ending a three-week inflow streak
- —US government-linked wallets deposited 17,733 BTC worth $1.48 billion into Coinbase Prime in three days
- —Thursday's long liquidations were the highest since August 21; realized profit hit $1.03 billion
- —10-year Treasury yield hit a two-decade high near 5.20%, while DXY held around $102.10
Why it matters: ETF outflows and rising Treasury yields are pressuring Bitcoin; a break below the $79,772 support would open the door to $75,000.
Source: FXStreet Crypto