The main outflow came in the week of October 12-16: net redemptions of $610.7 million. Of that, $320.1 million was pulled from Ethereum funds and $228.4 million from Bitcoin funds. The only bright day was October 13, when $109.8 million flowed in, but that did not reverse the trend.
The reason is not crypto itself. It is currently expensive for managers to keep money in risk assets: yields on conservative instruments are competitive, and allocation to crypto is losing out. Add to that the US inflation report on October 14 and the SEC proposal of October 1 on crypto asset custody standards for investment advisers.
Where the price is now. Support is the 50-day average at $81,248, right below the market. The nearest resistance is $81,523.66, above that the 20-day average at $83,555. RSI 45.67, 20-day volatility 1.3%, return -0.37% over 5 days and -3.58% over 20. Three-month range: $62,764 - $86,595.
On October 17, in a single hour, $10.91 million in long Bitcoin positions were wiped out - those holding leveraged longs were forcibly closed. Altcoins fell harder: Ethereum around $2,416 and -10.2% since October 1, SOL and XRP also down more than 10%.
At the same time, daily trading volume is 34% above the monthly average. There is enough money in the market, but it is leaving the funds and working intraday - this is a market for the short haul, not for calm holding.
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