Bitcoin Slides Below $82,000 As U.S. Spot ETFs Shed $635 Million

U.S. funds registered $635.49 million in net withdrawals Thursday, and Bitcoin moved below $82,000 early Friday. The withdrawals ended three consecutive sessions of inflows.

BlackRock's iShares Bitcoin Trust (IBIT) saw $254.05 million in outflows, while Fidelity's Wise Origin Bitcoin Fund (FBTC) lost $217.46 million. Together, the two funds accounted for about 74% of the day's total. Morgan Stanley's MSBT was the sole fund among the 12 to post a positive flow, bringing in $2.33 million.

Bitcoin had climbed to about $84,800 on Oct. 21, then retreated and briefly traded below $81,000 Thursday. The ETF figures cover the U.S. fund session, while Bitcoin trades around the clock.

Cumulative net inflows for the 12 funds stood at $57.32 billion as of Oct. 22. ETF flow figures track activity in fund shares and do not by themselves establish what caused Bitcoin's price decline.