Spot Bitcoin exchange-traded funds (ETFs) in the US experienced over $1.2 billion in outflows this week, amid a tough week for Bitcoin and digital assets. Friday alone saw $366.6 million in redemptions, with BlackRock’s iShares Bitcoin Trust losing $268.6 million. Fidelity, Grayscale, and Valkyrie also faced outflows.

This week marked the worst for Bitcoin ETFs since mid-2024, with only one inflow day recorded. Outflows coincided with Bitcoin’s $10,000 price drop from above $115,000 to below $104,000. Charles Schwab CEO stated their clients own 20% of all US crypto exchange-traded products, with increasing engagement in crypto.

Glassnode reported that Bitcoin’s illiquid supply only dropped 2% in Q3, while liquid supply rose 12%, indicating long-term holders are holding strong despite volatility. CryptoQuant analyst Darkfost remains bullish on Bitcoin, noting sustained accumulation and dominance as the king of crypto assets.

Crypto analyst Ted Pillows believes Bitcoin’s next move relies on reclaiming the $108,000-$109,000 zone. Reclaiming this level could push BTC towards $112,000, while failure might lead to the $100,000 region. Schwab also plans to launch a stablecoin in the near future.

Read more at Yahoo Finance: $1.2B Left BTC ETFs This Week, but Not All is Lost for Bitcoin Price