Bitcoin ETFs End Losing Streak, But Prices Dip to $80K

Bitcoin ETFs finished the week up $301M, breaking a two-week decline, but Bitcoin slipped to about $80,490 as traders turn cautious.

After two straight weeks of losses, Bitcoin ETFs finally finished a week in positive territory — but it was a close call.

What's an ETF? A spot Bitcoin ETF (Exchange-Traded Fund) is an investment product that holds real Bitcoin and trades on the stock market like a normal share. It lets everyday investors bet on Bitcoin's price through a regular brokerage account, without buying the coin directly.

Here are the key numbers for the week:

Bitcoin ETFs lost $137.9 million on Friday (money pulled out, called an "outflow").
Despite that, they ended the week up about $301 million — snapping a two-week losing streak.
For October overall, they're still down about $314 million.
Since launching in January 2024, these funds have attracted $57.6 billion in total investments.

Other crypto funds also struggled. Ethereum ETFs are down roughly $1.18 billion for October, while Solana ETFs are down about $68 million for the month.

Prices slipped heading into the weekend:

Bitcoin fell 1.1% to about $80,490.
Ethereum dropped 2.6% to roughly $2,344.
Solana fell 2.8% to about $101.

The overall crypto market lost 1.2%, landing at $2.79 trillion. This weakness followed a broader market selloff midweek, when oil prices climbed above $111 a barrel and AI-related stocks dropped.

Traders are growing more nervous. On Myriad, a prediction market (a platform where people bet on future events), the odds of Bitcoin falling to $77,500 this month jumped to 43%, up from 32% just a day earlier. Meanwhile, the chance of Bitcoin climbing above $87,500 dropped to just 10%.

The week started on a bright note — J.P. Morgan predicted 10% yearly returns for Bitcoin over the next decade. But for now, analysts say Bitcoin is stuck in a cautious "wait-and-see" mode.

Bottom line: The losing streak is over, but October remains a losing month overall, and investors appear increasingly uncertain about where prices head next.

This is an AI-generated summary. Read the original article at: https://decrypt.co/381777/bitcoin-etfs-snap-two-week-losing-streak-despite-late-week-slide