U.S. spot Bitcoin ETFs recorded $292 million in net outflows over the 30 days ending October 26, according to data from Glassnode.
This marks the first negative 30-day total since late July, reflecting a shift in institutional sentiment after months of strong positive inflows.
The chart illustrates a clear alternation between inflow periods (green areas) and outflow periods (red areas) throughout the year, with a close correlation between flow direction and Bitcoin's price movement (black line).
Analysts note that the outflows coincide with Bitcoin trading near $81,000 and a broader cautious mood ahead of the Fed's rate decision and the midterm elections, prompting some investors to reduce exposure to risk assets.
However, the $292 million outflow remains **relatively modest** compared to the ETFs' assets under management exceeding **$100 billion**, suggesting the pullback may be a temporary correction rather than a structural reversal in institutional demand.