Bitcoin ETFs took $119m, ether ETFs lost $202m, and the day netted out red

Bitcoin ETFs took $119m on Tuesday after giving back $90m on Monday. Ether ETFs lost $202m on the same Tuesday, their sixth consecutive session of outflows, taking the run to $408m. Across the two complexes the day finished $83m down.

“Bitcoin's recovery faced increased profit-taking as the price traded at a substantial premium to active traders' estimated $68,900 cost basis”

— MorenoDV, Аналитик CryptoQuant

Six sessions at $68m a day

The ether streak averages $68m leaving per session. That is a steadier number than the bitcoin side, which went minus $90m then plus $119m inside two days.

Put Monday and Tuesday together and the bitcoin side is plus $29m for the two days. The rebound recovered the prior session and $29m more, which is a different sentence from the one the word rebound usually carries.

Neither number is large against the assets they track. The $408m that left ether funds over six sessions is 0.129% of ether's $316bn market capitalisation. Tuesday's $119m into bitcoin funds is 0.007% of bitcoin's $1.68trn. Flows this size signal direction rather than apply pressure, and direction is what the six-session streak is actually showing.

For scale on the rebound: we counted $1.7bn of bitcoin ETF inflows across two days on 23 September. Tuesday's $119m is 7.0% of that. Measured against a normal strong day, the rebound is small.

The ether exits keep stacking

$408m out of the funds is the second ether outflow we have counted this month. On 1 October a $963 theft triggered 17,000 validator exits and pulled $1.4bn out of Ethereum staking. A different mechanism pointing the same way, inside the same week.

Ether trades at $2,588 as we write, down 4.62% on the day, and bitcoin sits at $83,743. The outflows ran ahead of the price.

Three small funds, three directions

XRP ETFs took $3.1m, Solana ETFs lost $3.7m, and Zcash ETFs recorded no net flow. Zero is the interesting one. We wrote on 5 October that ZEC is the tenth largest crypto asset at a $22.4bn market capitalisation, and its ETF complex moved nothing in either direction.

MorenoDV's $68,900 cost basis puts bitcoin at a 21.9% premium to what active traders paid. That gap is the reason a $119m inflow and heavy profit-taking can show up on the same tape, and it is also why the ether streak reads as the cleaner signal of the two.

Informational material, not investment advice. Flow figures cover one trading session and say nothing about the next one.