Analysts: Crypto's Risk-On Rally Is Fragile as ETF Flows Waver and Ethereum Lacks Institutional Case
- —Bitcoin holds above $83,000 with the Fear and Greed Index at 68
- —Spot Bitcoin ETFs bled $484.9 million on October 8, the largest daily outflow since June 25
- —Ethereum ETFs recovered only a third of outflows, versus two-thirds for Bitcoin funds
- —BlackRock's IBIT drew $1.2 billion in a week in September, Fidelity's FBTC $702 million
Why it matters: If the October 14 CPI print comes in below expectations, unwinding basis trades could accelerate ETF outflows and push Bitcoin toward the $77,000 on-chain accumulation zone.
Source: Blockhead