According to SoSoValue data, U.S. spot Bitcoin exchange-traded funds (ETFs) recorded a net outflow of $137.94 million on October 23.
Adding the previous day's outflow of $635.49 million—the largest single-day outflow since late June—the two-day net outflow reached $773.43 million.
Among these, BlackRock’s iShares Bitcoin Trust (IBIT) recorded the largest outflow on October 23, at $110.34 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw an outflow of $31.78 million, while Morgan Stanley’s MSBT recorded a net inflow of $4.19 million.
Despite outflows, Bitcoin ETFs have maintained positive flows this week, totaling approximately $228.2 million.
According to U.Today, the leak occurred after Franklin Templeton received Nasdaq approval to list two Bitcoin-related ETFs. Franklin Templeton is an asset management firm with $1.8 trillion in assets under management.
The Franklin US Equity Bitcoin DRIP Index ETF (FBEQ) and the Franklin US Innovation Bitcoin DRIP Index ETF (FIBT) aim to combine exposure to U.S. equities with a strategy that gradually accumulates Bitcoin.
Unlike traditional spot Bitcoin ETFs, these two funds are not primarily designed to track the price of BTC directly.
BTC price faces key support at $80,000
Bitcoin is trading around $80,550, down 1.32% from the previous day. Despite the approval of Franklin Templeton’s new fund, this cryptocurrency remains under pressure.
On the daily chart, BTC remains above the key moving averages. The 100-day moving average is around $77,500, and the 200-day moving average is around $76,200, both of which are trending upward, providing support for the broader trend.
The current direct support level is near $80,000, followed by approximately $77,500 at the 100-day moving average. A break below $80,000 could expose Bitcoin to further selling pressure.
High open interest also increases risk. If BTC drops below $80,000 while leverage positions remain elevated, forced liquidations could accelerate its decline toward the 100-day moving average.
Currently, the signals facing Bitcoin are mixed. Weekly net inflows into ETFs and rising moving averages provide some support, while recent large-scale outflows and potential leveraged liquidation risks may continue to pressure prices.