Key takeaways Bitcoin ETFs lose $729 million across two sessions Fidelity and BlackRock lead significant institutional fund withdrawals BTC struggles near $83K despite recovering ETF demand B
Bitcoin's price has struggled to sustain a recovery after falling toward $82,000, following $729 million in net withdrawals from US spot Bitcoin exchange-traded funds over just two trading sessions.
The largest cryptocurrency briefly dropped below $82,000 during the October selloff before recovering toward $83,400 on October 14. However, renewed inflation concerns and elevated Treasury yields continue to threaten its recovery.
According to Farside Investors' ETF data, US spot Bitcoin ETFs recorded $484.9 million in net outflows on October 7 and another $244.1 million on October 8, marking one of the month's most concentrated periods of institutional selling.
BlackRock and Fidelity Lead $729 Million Bitcoin ETF OutflowsThe two-day withdrawal wave revealed a significant shift in investor positioning across America's largest Bitcoin investment products.
BlackRock's iShares Bitcoin Trust (IBIT) experienced $207.7 million in net outflows on October 7, while Fidelity's Wise Origin Bitcoin Fund (FBTC) lost $105.1 million. ARK 21Shares' ARKB recorded another $101.7 million in withdrawals.
Selling continued the following day, but the largest contributor changed. Fidelity's FBTC suffered $197.1 million in outflows on October 8, compared with just $5.5 million for BlackRock's IBIT.
Combined, Fidelity lost $302.2 million over the two sessions, while BlackRock recorded $213.2 million in withdrawals.
The distinction is important because the broader ETF market was not experiencing uniform selling. Different funds faced different investor behavior, suggesting that institutional demand remained fragmented rather than disappearing entirely.
The withdrawals contributed to a broader Bitcoin ETF selloff that removed approximately $679 million from US spot funds during the October 5–9 trading week.
Bitcoin ETF Demand Recovers, but BTC Remains Under PressureDespite the large withdrawals, subsequent fund-flow data suggests institutional sentiment may be stabilizing.
Bitcoin ETFs attracted $21.1 million on October 9, followed by $65.4 million in withdrawals on October 12 and approximately $109.8 million in inflows on October 13, according to Farside's latest available figures.
This recovery complicates the bearish interpretation of the earlier $729 million withdrawal wave.
Bitcoin nevertheless remains vulnerable to macroeconomic developments.
September's US Consumer Price Index rose 3.7% annually, increasing expectations that the Federal Reserve could raise interest rates again. Higher Treasury yields and a stronger dollar can reduce demand for risk-sensitive assets, including cryptocurrencies.
The latest weakness follows an earlier Bitcoin selloff driven by rising oil prices, bond yields and leveraged liquidations.
Bitcoin Price Prediction: Can BTC Hold $80,000?Bitcoin's recent trading range highlights the importance of the $80,000 psychological threshold.
BTC fell to approximately $80,337 on October 8 before recovering. That low provides a recent downside reference, although it does not guarantee that buyers will defend the same level again.
A sustained recovery above $83,000 could bring $85,000 back into focus, followed by the $87,000 region where Bitcoin previously encountered selling pressure.
However, another decline below $82,000 would increase attention on the earlier $80,000–$82,000 buying zone identified by trading firm QCP Capital.
