Bitcoin sticks at $79,700: BlackRock only buyer 36 hours from the Fed

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On the price side, bitcoin is trading at $79,709 (€71,396) this Tuesday, October 27 at 6:36 a.m. Paris time. It yields 0.5% over 24 hours, 2.8% over seven days and 5.4% over thirty days according to CoinGecko.

The rest of the market is selling. Small holders are sending their BTC to Binance at a rate not seen in six months. Opposite, the Fed will deliver its verdict on Wednesday October 28 at 7 p.m. and October is heading towards a second red month in a row.

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Monday's SoSoValue statement can be read in one line. Out of 110 million dollars of net inflows into spot Bitcoin ETFs, IBIT carries 110. The other issuers have not moved a dollar.

The BlackRock fund has now accumulated $66.24 billion in inflows since January 2024. In total, Bitcoin ETFs weigh $102.84 billion in net assets, or 6.4% of the capitalization of bitcoin.

On the Ethereum side, the atmosphere is completely different. ETFs returned $88.6 million in the same session. BlackRock’s ETHA alone lost 105 million.

The previous week was more confusing. From October 19 to 23, Bitcoin ETFs ended at +$301 million, despite 773 million withdrawals concentrated on Thursday and Friday.

IBIT had also returned 110 million on October 23 according to Farside. On Monday, BlackRock simply picked up what it had dropped on Thursday.

There remains a stinging number. James Seyffart of Bloomberg Intelligence places the average cost price of ETFs at around $81,700. During this morning, the average ETF buyer therefore lost 2.4%.

So who is selling? CryptoQuant provides part of the answer. Over thirty days, BTC deposits on Binance from individual wallets increased from 5.5 to 10.75 billion dollars. Unheard of in six months.

Whales do the opposite. Their deposits fell from $5.9 billion at the end of August to $3.8 billion today.

Of course, depositing on an exchange does not mean selling: you can also look for yield there. But when the little ones fill the coffers and the big ones empty them, the signal rarely leans towards buying.

On derivatives, the case remains contained. CoinGlass recorded $196 million in liquidations over 24 hours Monday as of 4:30 p.m., including 128 million long positions. The Fear & Greed index dropped from 50 to 48 overnight.

October lost 4%. Bitcoin is heading towards a second consecutive “Red October” after the -3.9% in 2025. This month has nevertheless returned 26% on average since 2010 according to Cointelegraph.

Machine-translated from French