Bitcoin falls below 82000 dollars despite heavy spot ETF inflows

Bitcoin fell below 82,000 dollars on October 22 despite strong demand for United States spot exchange-traded funds. The Market Periodical reported that the cryptocurrency dropped past this threshold even after spot funds accumulated over 1 billion dollars in assets over three trading sessions. Bitcoin News also reported that the asset plunged below the 81,000 dollar level on the same day. [1][10]

Data from SoSoValue cited by The Market Periodical showed spot Bitcoin exchange-traded funds attracted approximately 1.08 billion dollars in net inflows across three sessions ending October 21. The inflows were driven by products including BlackRock's IBIT, Fidelity's FBTC, Grayscale's GBTC, and Bitwise's BITB. However, CryptoSlate reported figures from Farside Investors showing that daily inflows experienced a sharp 95.6 percent decline between October 19 and October 20, dropping from 526.7 million dollars to 23.2 million dollars. [1][4]

The price pullback brings Bitcoin close to critical cost basis levels. According to CryptoSlate and The Defiant, analysis from Glassnode puts the estimated average acquisition cost for United States spot Bitcoin exchange-traded funds and corporate treasuries near 80,000 dollars to 81,500 dollars. As FTMQ Crypto reported earlier, Bitcoin spot ETF inflows have previously helped reinforce price support around the 80,000 dollar region. [4][6][14]

Broader crypto markets also experienced downward pressure. Coinfomania, FXStreet, and The Economic Times reported that Ethereum and XRP declined alongside Bitcoin despite the net inflows into Bitcoin products. Research from DWF Labs cited by Pluang noted that Bitcoin exchange-traded fund flows generally follow past price trends rather than predicting future market returns. [5][7][8][9]