Investor attention is returning to Bitcoin ETFs as market trends and price trends begin to show new signs of strength.
summary
- Bitcoin ETFs recorded inflows of $20.3 million on October 23, following outflows due to volatile investor sentiment.
- BlackRock's IBIT led with a profit of $107.8 million, offsetting outflows from Grayscale and Ark21 Shares as overall demand recovered.
- BTC is trading around $111,478 with support near $110,000 while momentum is building towards a potential move towards $115,000.
The Bitcoin ETF recorded modest net inflows of $20.3 million on October 23, according to SoSoValue data. The return in inflows follows a $101.3 million outflow the previous day and a massive $477 million inflow on Oct. 21, underscoring the volatile investor appetite seen this week.
Among issuers, BlackRock's iShares Bitcoin Trust (IBIT) topped the list with $107.8 million in net inflows, followed by Fidelity's FBTC with $7.2 million, and Bitwise's BITB added $17.4 million.
These gains offset notable redemptions from Grayscale's GBTC and Arc21Shares' ARKB, which recorded outflows of $60.5 million and $55 million, respectively. The mixed performance shows that while demand is recovering, sentiment among issuers remains uneven.
Meanwhile, Ethereum ETFs continued to record outflows, with a combined redemption of $127.5 million on October 23rd. The outflow week for the sector has been extended as no issuer has recorded net inflows and investors remain hesitant to re-enter amid weak trading volumes.
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Bitcoin ETFs recover as bulls aim for $115,000
The recovery in exchange-traded funds (ETFs) comes as Bitcoin (BTC) itself regains strength. The cryptocurrency market giant is currently trading around $111,203, up 1.24% over the past 24 hours, after regaining the $110,000 level that acted as a resistance level earlier this week.
The token hit a weekly high near $113,940 before facing rejection, briefly falling to the $106,000 range. Now, with the price above $110,000, Bitcoin seems poised to retest its recent highs.
BTC price chart as Bitcoin ETF returns to inflows | Source: crypto.news
On the bullish side, a clean break above $112,000 could pave the way to the next resistance zone at $115,800. This move would confirm that near-term momentum is shifting in favor of buyers. The RSI has now risen from the oversold level near 43, confirming the growing bullish pressure and indicating the possibility of further recovery.
However, if BTC fails to sustain above $110,000, the structure could weaken again with potential downside targets at $105,000 and then $100,000. A rebound from current levels could create fresh selling pressure as traders book profits near resistance.
For now, Bitcoin price action is showing signs of strength, but sustained buying volume will be key to confirming the breakout and moving above $112,000.
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