Bitcoin ETFs Post Biggest Outflow Since June: Crypto Market Update, October 24, 2026

By Jodez · Market Update · 2026-10-24

U.S. spot Bitcoin ETFs lost $635.49 million on Thursday, October 22, their largest single-day withdrawal since June 25. BlackRock's IBIT gave back $254.05 million and Fidelity's FBTC shed $217.46 million, Bitcoin.com News reported.

That matters because ETF flows have been the steadiest bid under BTC this year. When the two biggest funds lead the exit on the same day, the market notices.

IBIT and FBTC Lead the Exit

Some context keeps this from turning into a panic read. Weekly flows were still positive at $442.67 million after Thursday, helped by a strong start: on October 19, the funds took in $526.7 million, with IBIT alone adding $665.2 million.

The longer stretch is weaker. Cumulative flows from October 5 through October 19 were negative $380.6 million. So we've had a choppy month of flows, and Thursday was the sharpest swing within it.

Ether funds weren't spared either. ETH ETFs saw $110.50 million leave on the same day, which points to a broad pullback from crypto funds rather than a Bitcoin-specific problem. I'd want to see whether Friday and Monday flows recover before reading too much into one bad session.

Strong U.S. Data Keeps Rates in Play

The macro calendar didn't help. Every print this window came in on the firm side, which pushes back on the case for faster Fed cuts.

• Initial jobless claims (Thursday, 8:30 a.m. ET): 194K versus a 200K forecast and 199K prior. The labor market is still tight.

• S&P Global Manufacturing PMI (Friday, 9:45 a.m. ET): 56.0, above forecasts and up from 55.9.

• S&P Global Services PMI (Friday, 9:45 a.m. ET): 57.9, roughly in line, down from 58.8 but still well into expansion.

• Crude inventories: a 3.06 million barrel draw against an expected 0.10 million draw, a mild inflation nudge.

None of these is dramatic alone. Together they describe an economy that doesn't need help, and that's a headwind for anything priced off easier money.

XRP and DOGE Take the Hardest Hit

The majors all closed the three days lower. BTC fell 4.06% to about $80,643 and ETH dropped 4.19% to $2,369. SOL lost 4.89% to $101.69.

XRP was the weakest at minus 6.1%, sitting near $1.28, with DOGE close behind at minus 5.36%. BNB held up best, down just 1.83% to $732.15. That kind of relative strength in a red tape is worth tracking.

Our scanners leaned short on several mid-caps while flagging longs in a handful of smaller names:

• IMX: flagged 5 times, bearish with new shorts.

• CASHCAT: flagged 5 times, bullish with new longs.

• LDO and APT: 4 flags each, both bearish with new shorts.

• SOON, DASH and STRK: 4 flags each, bullish with new longs.

That split fits the tape. Large caps bleeding, positioning rotating into a few isolated names rather than lifting the whole market.

Papertrade Dilutes Its Own Stakers

The ugliest protocol story came from Papertrade, the HyperEVM perps venue. A contract upgrade on October 23 data made PAPER issuance uncapped and tied new supply to existing supply, while new tokens add nothing to USDC payouts. Daily staker distributions fell from $6.72 million to $88,308 in six days.

CoinDCX also had a rough week. About 15.99 million USDT moved out of 40 Tron addresses tied to the exchange after 88 deposits sat unswept for months. The exchange says it absorbed losses and credited users, per Unchained, but it still hasn't given a loss figure.

On the enforcement side, a UAE-led operation across 30 countries flagged more than $39 billion in fraud-linked funds and made over 960 arrests, Bitcoin.com News said. Separately, the SEC added tokenization to its 2027 exam priorities, a supervision signal with no new rule attached.

Momentum Algo Catches ZAMA

Even in a red week, a few trades worked. The Momentum Algo closed a ZAMA long at target for +2.19R.

Members had a strong window too. 1goldenboyy closed an EPIC short for +240.8% over about two days, and dig_konst ran a W long for +214.6%. stocktraderdk took a BR short for +155.0% in just over nine hours, and jodez closed a BIRB short for +106.2%.

Past results don't guarantee future returns; leveraged trading can lose more than your stake.

Most of those winners were shorts, which lines up with the tape. The people who did well respected the trend instead of fighting it.

Ethereum and Solana Upgrades Ahead

Monday, October 26 brings Ethereum's Glamsterdam upgrade to the Hoodi testnet, with a proposed 200 million gas target against roughly 60 million on mainnet today. A clean test keeps a December 1 or 8 mainnet launch on the table.

On Solana, Alpenglow activation needs validators holding at least 82% of stake to sign off, and an October 19 snapshot showed 45.2% not yet ready. Add ETF flows and whether BTC holds the $80,000 area, and you have plenty to watch next week.

This is market commentary, not financial advice. Always do your own research. Trading leveraged products carries a high risk of loss.