Bitcoin Holds Up as Bitcoin ETFs See $679 Million in Outflows
Bitcoin rose last week despite five straight sessions of ETF outflows totaling $679 million, with analysts citing short covering as the main support.
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what happened
According to Dow Jones Newswires, bitcoin advanced last week even as exchange-traded funds recorded heavy outflows for five consecutive sessions. The withdrawals totaled $679 million, analysts at crypto data platform CoinMarketCap said.
CoinMarketCap data showed that investors liquidated 0.6% of total assets during the week. Fidelity’s Bitcoin ETF accounted for $380.3 million in redemptions. Alice Liu, head of research at CoinMarketCap, said bitcoin gained 1% because the selling was absorbed by short covering rather than new spot-market buying.
Liu said that made the support level less robust than the $84,000 mark might suggest. Bitcoin is currently down 0.3% at $83,304.
why it matters
Bitcoin’s rise alongside significant ETF outflows points to short covering as an important market force and suggests that the price floor may be less solid than it appears.
instruments
sources
- Bitcoin Price Holds Steady Despite Heavy ETF Outflows — Market Talk — Dow Jones Newswires, 12 October 2026 at 11:47 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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