Republican

Bank

Bitcoin ETF

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin ETFs recorded their first outflow day on October 22, following 7 consecutive inflow days.</li> 
 <li>BTC price trades below $67,000, despite Trump’s rising odds of winning the US elections surpassing 64%.</li> 
</ul> 
<p>Yesterday, the US Bitcoin ETFs recorded their first outflow day, following 7 consecutive days of significant inflows. However, BlackRock, VanEck, and Fidelity’s Bitcoin ETFs continued to buy BTC.</p> 
<h2 id="us-btc-etfs-flows-on-october-22">US BTC ETFs Flows on October 22</h2> 
<p>According to data from SoSoValue, the US Bitcoin ETFs saw over $79 million in outflows, the first day after a longer streak of inflows that debuted on October 11 and lasted until October 21.</p> 
<p>The most significant inflow day from this 7-day streak of inflows was October 14 when the crypto products recorded almost $556 million in inflows, according to SoSoValue <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">data</a>.</p> 
<figure id="attachment_52186" aria-describedby="caption-attachment-52186" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/23oct.png"><img loading="lazy" decoding="async" class="wp-image-52186 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/23oct.png" alt="SoSoValue data" width="1472" height="527" title="Bitcoin Price Loses the $67,000 Support, Despite Trump's Election Odds Surpassing 64% 27" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/23oct.png 1472w, https://crypto.ro/en/wp-content/uploads/2024/10/23oct-300x107.png 300w, https://crypto.ro/en/wp-content/uploads/2024/10/23oct-1024x367.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/23oct-768x275.png 768w, https://crypto.ro/en/wp-content/uploads/2024/10/23oct-750x269.png 750w, https://crypto.ro/en/wp-content/uploads/2024/10/23oct-1140x408.png 1140w" sizes="(max-width: 1472px) 100vw, 1472px"></a>
 <figcaption id="caption-attachment-52186" class="wp-caption-text">
  SoSoValue data
 </figcaption>
</figure> 
<p>Here are the inflows and outflows in the crypto products on October 22:</p> 
<ul> 
 <li>BlackRock’s Bitcoin ETF, IBIT, saw almost $43 million in inflows.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC, recorded almost $9 million in inflows.</li> 
 <li>VanEck, ‘s Bitcoin ETF, saw almost $4 million in inflows.</li> 
 <li>The only Bitcoin ETF that recorded outflows yesterday was Ark Invest and 21Shares’ ARKB, at almost $135 million in outflows.</li> 
</ul> 
<p>The other Bitcoin ETFs did not see any inflows or outflows yesterday.</p> 
<figure id="attachment_52188" aria-describedby="caption-attachment-52188" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/23octsoso.png"><img loading="lazy" decoding="async" class="wp-image-52188 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/23octsoso.png" alt="SoSoValue data" width="1552" height="524" title="Bitcoin Price Loses the $67,000 Support, Despite Trump's Election Odds Surpassing 64% 28" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/23octsoso.png 1552w, https://crypto.ro/en/wp-content/uploads/2024/10/23octsoso-300x101.png 300w, https://crypto.ro/en/wp-content/uploads/2024/10/23octsoso-1024x346.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/23octsoso-768x259.png 768w, https://crypto.ro/en/wp-content/uploads/2024/10/23octsoso-1536x519.png 1536w, https://crypto.ro/en/wp-content/uploads/2024/10/23octsoso-750x253.png 750w, https://crypto.ro/en/wp-content/uploads/2024/10/23octsoso-1140x385.png 1140w" sizes="(max-width: 1552px) 100vw, 1552px"></a>
 <figcaption id="caption-attachment-52188" class="wp-caption-text">
  SoSoValue data
 </figcaption>
</figure> 
<p>The total net assets in BTC ETFs in the US were over $65 billion as of October 22, and the cumulative total net inflow in the crypto products surpassed $21 billion.</p> 
<p>Regarding Bitcoin’s price today, the coin lost once again support for $67,000.</p> 
<h2 id="btc-is-trading-above-66-500">BTC Is Trading Above $66,500</h2> 
<p>At the moment of writing this article, BTC is trading at $66,500, after earlier seeing a price drop close to $66,200, ahead of a quick reversal.</p> 
<figure id="attachment_52217" aria-describedby="caption-attachment-52217" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-90.jpeg"><img loading="lazy" decoding="async" class="wp-image-52217 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-90.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin Price Loses the $67,000 Support, Despite Trump's Election Odds Surpassing 64% 29" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-90.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-90-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-90-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-90-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-90-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/10/BTC_1D_graph_coinmarketcap-90-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-52217" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>The coin is seeing increased price volatility, amidst an important economic week which includes an IMF-Work Bank meeting.</p> 
<p>Analysts expected high volatility for the coin’s price, especially since the US elections are getting closer.</p> 
<p>On October 21, Bitcoin’s price rallied above $69,000, a price level that has not been seen since June, but the week continued with a descendant trend for the digital asset.</p> 
<p>Last week’s BTC rally was fueled by continuous inflows in US BTC ETFs and rising odds of a Trump win. According to data from Polymarket, today, Trump continues to lead Kamala Harris by 64.1% to 35.8%.</p> 
<figure id="attachment_52220" aria-describedby="caption-attachment-52220" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/trump23oct-1.png"><img loading="lazy" decoding="async" class="wp-image-52220 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/trump23oct-1.png" alt="Polymarket " width="1126" height="469" title="Bitcoin Price Loses the $67,000 Support, Despite Trump's Election Odds Surpassing 64% 30" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/trump23oct-1.png 1126w, https://crypto.ro/en/wp-content/uploads/2024/10/trump23oct-1-300x125.png 300w, https://crypto.ro/en/wp-content/uploads/2024/10/trump23oct-1-1024x427.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/10/trump23oct-1-768x320.png 768w, https://crypto.ro/en/wp-content/uploads/2024/10/trump23oct-1-750x312.png 750w" sizes="(max-width: 1126px) 100vw, 1126px"></a>
 <figcaption id="caption-attachment-52220" class="wp-caption-text">
  Polymarket
 </figcaption>
</figure> 
<p>Considering that the rising Trump election odds have been a<a href="https://crypto.ro/en/news/bitcoin-october-rally-a-sign-of-markets-pricing-in-a-potential-trump-2024-elections-victory/"> catalyst</a> for Bitcoin’s price last week, a continued surge for a Republican win could support the coin’s price and trigger a rebound. Until then, the recent price correction gives traders a great accumulation opportunity.</p>

Bitcoin Price Loses the $67,000 Support, Despite Trump’s Election Odds Surpassing 64%

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