US spot Bitcoin ETFs returned to net inflows on Monday with $110 million, after $774 million in withdrawals over the previous two trading sessions. October still shows about $202 million in net outflows, while retail deposits to Binance nearly doubled.
US-listed spot Bitcoin ETFs attracted $110 million in net inflows on Monday, according to SoSoValue. The funds returned to inflows despite weakening market sentiment and continued volatility in the BTC price.
The rebound followed $774 million in withdrawals over the previous two trading sessions. Even so, October remained negative, with approximately $202 million in net outflows through Monday.
Bitcoin slips 2.6% in a week
Bitcoin traded at $79,595 at the time of publication and was down 2.6% over the past seven days, according to CoinGecko.
Sentiment also weakened. The Crypto Fear & Greed Index fell to 48 from 50 the previous day, and it remained in neutral territory.
Retail deposits to Binance nearly double
CryptoQuant data also showed retail investors sending more Bitcoin to Binance while large holders reduced their deposits. Analyst Darkfost wrote that retail Bitcoin deposits to Binance nearly doubled to $10.8 billion over 30 days, while deposits from large holders fell to $3.8 billion.
Darkfost suggested that smaller investors might be using the recent price rebound as an opportunity to sell.
Source: Cointelegraph
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