Bitcoin Price Rebounds Above $82,000 After $526.7 Million…
By Abdelaziz Fathi
AI summary of the source article
Bitcoin rebounded above $82,000 following an early selloff toward $81,300. The recovery came alongside a rebound in US equities and $526.7 million in net inflows into US spot bitcoin ETFs, heavily concentrated in BlackRock's IBIT.
Why it matters
That concentration matters because IBIT accounted for more than 100% of the overall positive figure, with withdrawals from competing products offsetting part of BlackRock's purchases.
Key facts
- US spot bitcoin ETFs drew $526.7 million in net inflows on October 19, led by $665.2 million into BlackRock's IBIT.
- Fidelity's Wise Origin Bitcoin Fund and Grayscale Bitcoin Trust posted outflows of $83.6 million and $54.9 million, respectively.
- US spot ether ETFs registered $103.3 million in net withdrawals on October 19, marking their fourth straight session of outflows.
Source excerpt · FinanceFeeds
Bitcoin recovered above $82,000 during Tuesday's US trading session after an earlier selloff pushed the cryptocurrency toward $81,300, despite US spot bitcoin ETFs recording their strongest daily inflows in nearly a month. Bitcoin traded at $81,364 at 12:18 UTC on October 20, down 1.39% over 24 hours, according to CoinGecko data. The price subsequently rebounded as US equities recovered and oil pr…