US spot Bitcoin ETFs recorded net inflows of $526.6 million on Monday, October 19. This marks the largest single-day inflow for these funds since September 22, when they attracted $714.75 million. The surge helped reduce the net monthly outflow for October to $90.57 million, following a previous loss of $617.17 million earlier in the month.
Data from SoSoValue indicates that BlackRock’s iShares Bitcoin Trust (IBIT) was the sole Bitcoin fund to report net inflows during this session. In contrast, other crypto-related products saw outflows: Ethereum funds lost $103.28 million, while Solana products recorded a decline of $6.72 million. Ethereum funds have now seen net outflows on 14 of the last 15 trading days, totaling $1.12 billion.
Bitcoin recently maintained support at the $80,000 level, outperforming US tech stocks that saw significant declines. As of the latest data, Bitcoin is trading at $82,060, which is above the estimated ETF cost basis of $81,500. Analysts note that Bitcoin has closed above its 50-week moving average for five consecutive weeks, with key support levels identified at $80,000 and $76,000.
