The 12 U.S. spot Bitcoin ETFs saw nearly $1B in net outflows in the latest session—the second-largest daily outflow since launch—leaving the cohort on track for its worst week since February. Over the past month, cumulative outflows total about $4B while BTC has retreated ~30%. Citi Research estimates each $1B of ETF outflows corresponds to ~3.4% downside in spot and sets an $82K year-end bear-case target. BTC is $84,189.4 on OKX, down 1.94% over 24h. https://t.co/V4WEWsNplP ...

Market Trends - US spot Bitcoin ETFs are experiencing their worst month ever, with $379 billion in withdrawals so far in November [1] - November withdrawals have surpassed February's previous record of $356 billion [1]

Core Insights - The article provides an update on major cryptocurrencies, focusing on Bitcoin, Ether, and XRP, highlighting their market performance and foundational differences [1] Bitcoin - Bitcoin is the first cryptocurrency, launched in early 2009, and has become a mainstream financial asset despite its volatility [2] - Bitcoin's closing price has dropped to its lowest level since April, down approximately 2% year-to-date and about 25% below its record close from October 2025 [3] Ether - Ether, launched in July 2015 on the Ethereum blockchain, holds the second largest market share among cryptocurrencies [4] - Ether's closing price fell over 15% this week, reaching its lowest level in four months, with a year-to-date increase of around 7% and approximately 35% below its record close from August 2025 [4] XRP - XRP, owned by Ripple and launched in 2012, was once among the larger cryptocurrencies but has since been surpassed by newer coins [5] Comparative Analysis - An index has been created to compare Bitcoin, Ether, and XRP, using a logarithmic scale to illustrate relative percentage changes and long-term growth since November 9, 2017, with Bitcoin currently leading [6] ETF Developments - On January 10, 2024, the SEC approved several spot Bitcoin ETFs from various issuers, including Grayscale Bitcoin Trust ETF and Fidelity Wise Origin Bitcoin Fund [7] - On July 23, 2024, multiple spot Ether ETFs were launched, including Grayscale Ethereum Trust and Franklin Ethereum ETF [8]

Core Insights - Institutional demand for regulated crypto investment products remains strong despite overall market volatility, with crypto ETP assets only dipping by 2.5% in October compared to a 5.5% decline in the overall crypto market value [1][3][10] Institutional Interest - Bitcoin ETPs now account for approximately 7% of total Bitcoin supply, driven by significant institutional interest following the approval of spot Bitcoin ETFs in the U.S. in early 2024, which opened access to larger capital bases [2][5][6] - The demand for Bitcoin ETPs is bolstered by digital asset treasury plays and unlisted funds, indicating a robust appetite from traditional finance and institutional investors [6][10] Ethereum Growth - Ethereum ETP assets have experienced nearly 90% growth this year, as investors diversify their portfolios following gains in Bitcoin [3][7] - The increasing demand for Ethereum is attributed to its status as the second most capitalized asset and its strong trading volume, making it a preferred choice among traditional finance investors [8][9] Market Trends - There is a noticeable shift from altcoin-specific products to basket ETPs that include Bitcoin and Ethereum, driven by geopolitical and macroeconomic uncertainties, leading to a "flight to quality" among investors [3][10][12] - Altcoin ETPs are seeing a decline in demand, while basket products are gaining traction due to their perceived safety in the current market environment [10][12] Future Outlook - The uncertainty surrounding macroeconomic and geopolitical conditions is expected to continue influencing investor behavior, with a cautious approach being adopted towards riskier assets [10][11][13] - Predictions for 2026 remain uncertain, particularly due to potential geopolitical tensions and economic policies from the U.S. [13]

U.S. spot bitcoin ETFs see largest daily outflow since August as BTC price hovers around $100,000 https://t.co/xgZlBhjEuh ...

Market Sentiment & Whale Activity - Original Bitcoin whales are selling off their holdings, leading to negative market sentiment [1] - Despite the whale sell-off, 995 per 1,000 (99.5%) of funds in spot Bitcoin ETFs have not sold during the 20% drawdown [1] - The current market behavior represents a complete reversal of pre-2024 norms, indicating a fundamentally different market [1] Price Target & Valuation - JPMorgan predicts Bitcoin could reach $170 thousand in the next 6-12 months [1] - JPMorgan believes the deleveraging of perpetual futures is complete [1] - Bitcoin is currently undervalued compared to gold historically, suggesting significant upside potential in the next 6-12 months [1]

Core Insights - BitMine Immersion Technologies has added 27,316 ETH, valued at approximately $113 million, to its corporate treasury this week, increasing its total Ethereum holdings to over 3.3 million ETH, worth around $13.2 billion, making it the largest corporate holder of Ethereum [1][4][9] Company Overview - BitMine's total Ethereum holdings have surpassed 3.3 million ETH, solidifying its position as the largest Ethereum-holding corporation and the second-largest crypto treasury overall, following Michael Saylor's Strategy [4][9] - The firm is led by Tom Lee, co-founder of Fundstrat, who has expressed an ambitious goal of accumulating 5% of Ethereum's total supply, positioning BitMine as a long-term supporter of the blockchain ecosystem [5] Institutional Support - BitMine has garnered support from notable institutional investors, including Ark Invest's Cathie Wood, Bill Miller III, Digital Currency Group, Founders Fund, Galaxy Digital, Kraken, and Pantera Capital [5] Market Perspective - Tom Lee has emphasized Ethereum's potential as a "truly neutral chain" likely to gain favor among Wall Street institutions and U.S. policymakers [6] - Despite the optimism surrounding Bitcoin's price stability due to spot Bitcoin ETFs and increased institutional participation, Lee has cautioned that Bitcoin remains susceptible to significant market fluctuations [7]

ETF Inflow Analysis - Spot Bitcoin ETFs 录得每周净流入 27.1 亿美元 [1] - BlackRock's IBIT 领跑，流入 26.3 亿美元 [1] - Spot Ethereum ETFs 录得每周净流入 4.88 亿美元 [1] - BlackRock's ETHA 领先 Ethereum ETFs，流入 6.38 亿美元 [1] Time Context - 数据统计时间范围为 10 月 6 日至 10 月 10 日 (ET) [1]

Core Insights - The article provides an update on major cryptocurrencies, focusing on Bitcoin, Ether, and XRP, highlighting their market performance and foundational differences [1][2][3][4]. Bitcoin - Bitcoin, the first cryptocurrency, reached a record high closing price of $124,000 this week, marking a year-to-date increase of approximately 29% [2]. - Bitcoin is characterized by its volatility but is also viewed as resilient in the market [2]. Ether - Ether, launched in July 2015 on the Ethereum blockchain, has the second largest market share and saw its price rise over 10% this week, reaching its highest level in three weeks [3]. - Year-to-date, Ether's price has increased by around 33% and is approximately 8% below its record close from August 2025 [3]. XRP - XRP, owned by Ripple and launched in 2012, was once among the larger cryptocurrencies but has since been surpassed by newer entrants [4]. Comparative Analysis - An index has been created to compare Bitcoin, Ether, and XRP, utilizing a logarithmic scale to illustrate relative percentage changes and long-term growth since November 9, 2017 [5]. - Currently, Bitcoin leads in price changes among the three cryptocurrencies [5]. ETF Developments - On January 10, 2024, the SEC approved several spot Bitcoin ETFs from various issuers, including Grayscale Bitcoin Trust ETF and Fidelity Wise Origin Bitcoin Fund [6]. - On July 23, 2024, multiple spot Ether ETFs were launched, including Grayscale Ethereum Trust and Franklin Ethereum ETF [7].

ETF Inflows - US spot Bitcoin ETFs 录得第二佳单周流入量，达 32 亿美元 [1] - Ethereum ETFs 录得 13 亿美元流入量 [1]