Bitcoin ETFs see $82 million outflow as analysts debate $10,000 BTC risk

Bitcoin faced renewed pressure as US spot Bitcoin exchange-traded funds (ETFs) recorded $82.39 million in net outflows on October 16. Market analysts have pointed to these outflows, along with rising stock market volatility, as signs of possible downside for the leading digital asset. However, some observers argue that fears of Bitcoin dropping to $10,000 may be overstated when considering historical drawdowns. According to the digital asset data provider SoSoValue, the total assets held by US spot Bitcoin ETFs reached $104.29 billion following the latest session, representing about 6.35% of Bitcoin’s overall market capitalization.

Source: CoinTurk News