Bitcoin ETF outflows hit 910 million dollars in two weeks

Bitcoin ETF outflows reach 910 million dollars over two weeks as inflation revives rate-hike bets

U.S. spot Bitcoin ETFs recorded net outflows of approximately 910 million dollars across two consecutive weeks, as hotter-than-expected inflation data pushed investors toward the exit.

The funds lost 228.6 million dollars in the most recent week, following a 681.1 million dollar drain the week before. Wednesday's session was the worst of the stretch, with 261.4 million dollars in redemptions arriving the same day September's consumer price index came in at 3.7% year over year, above the 3.6% forecast. A producer price reading above expectations followed Thursday, reviving rate-hike positioning.

Bitcoin fell briefly below 80,000 dollars on Thursday. Nearly 950 million dollars in leveraged crypto positions were liquidated in 24 hours, roughly 90% of them bullish longs. The drop pushed Bitcoin below the average ETF holder's estimated cost basis near 82,300 dollars.

October, which opened with 293 million dollars in inflows, now sits approximately 615 million dollars in the red for the month. Total net assets across the funds stand near 104 billion dollars. Bitcoin closed the week near 81,590 dollars.