What happened?
Bitcoin is trading around $107,950 after a volatile mid‑October selloff, with 24‑hour volume topping $105 billion. CoinShares reports digital‑asset investment products saw $513 million in outflows last week, led by $946 million of redemptions in Bitcoin funds. Despite the withdrawals, ETP volumes stayed high near $51 billion, suggesting traders are repositioning rather than exiting outright.
Who does this affect?
This mainly hits institutional fund managers and ETF providers — BlackRock’s iShares and Grayscale faced the biggest redemptions, while Fidelity and Bitwise saw smaller outflows. The selling was concentrated in the U.S. (about $621 million), while investors in Europe, Canada and Switzerland were buying the dip with roughly $144 million of inflows combined. Retail and short‑term traders are affected too, as higher volume and volatile swings change trading opportunities and risk management needs.
Why does this matter?
The outflows create near‑term downward pressure on Bitcoin, but strong ETP volume and dip buying around $107,700 mean buyers could step in, so the immediate outlook is mixed. Technically, holding above $107,400 keeps a rebound toward $111,700–$115,900 possible, while a break below would expose targets near $104,400 and $101,100 and could spook the market. If volatility narrows and a clear breakout happens, it could set Bitcoin’s Q4 trend and either revive institutional demand into year‑end or delay a broader recovery, with emerging projects like Bitcoin Hyper potentially drawing longer‑term interest.