Bitcoin exchange-traded funds suffered their sharpest single-day withdrawal since June on Oct. 7, as rising bond yields, near-$100 oil and renewed expectations of tighter Federal Reserve policy weighed on demand for crypto exposure.
Record outflows meet a difficult macro backdrop
Investors pulled $484.9 million from U.S. spot Bitcoin ETFs on Wednesday, according to Decrypt’s ETF tracker. BlackRock’s iShares Bitcoin Trust, known by its ticker IBIT, accounted for $207.7 million of the redemptions, while Fidelity’s FBTC recorded $105.1 million in outflows.
The withdrawal erased about 81% of the money that had entered the funds during the preceding nine sessions. Even after the sharp reversal, however, the ETFs retained cumulative net inflows of $57.8 billion, indicating that the latest selling did not amount to a wholesale exit from the products.
The move came as broader financial conditions became less supportive of assets that do not generate income. The 30-year U.S. Treasury yield climbed to approximately 5.7%, its highest level since 2002. Brent crude settled near $100 a barrel, while stocks retreated from record highs.
Higher oil prices can add to inflationary pressure, potentially reinforcing expectations for elevated interest rates. That backdrop can make interest-bearing assets such as government bonds more attractive relative to Bitcoin, which does not pay interest.
Fed expectations and Bitcoin’s October slide
Minutes from the Federal Reserve’s most recent meeting showed that most officials expect another interest-rate increase before the end of the year. The Fed raised rates in September for the first time since 2023.
Market pricing remains less convinced about an October move. CME FedWatch put the probability of a hike at 19.4%, while Myriad assigned it a 17% chance. The Federal Reserve’s next scheduled meetings are Oct. 27-28 and Dec. 8-9; the September minutes did not specify when another increase might occur.
Bitcoin fell as low as $81,749.83 on Thursday, around 6% below its $86,978 peak earlier in the week. Approximately $429 million in derivatives positions were liquidated over 24 hours, with long positions—bets on higher prices—making up 87.5% of the total, according to CoinGlass.
Bitcoin had posted gains in October for six consecutive years before declining 3.69% in 2025. This year, the ETFs began October with $321.6 million of inflows across four sessions, but stood at a cumulative $163.3 million outflow through Oct. 7.
Moneyiar market picture
Moneyiar data at 21:44 on Oct. 8 showed Bitcoin at $81,655.13, down 1.83% over 24 hours and 3.33% over seven days. NEAR Protocol was $4.5265, down 14.18% in 24 hours and 5.28% over seven days. ONEchain stood at $0.13243, down 3.86% over both periods, while RedStone was $0.14421, down 3.50% in 24 hours and 18.11% over seven days.
