Bitcoin ETFs Suffer Worst Loss Since June as Uptober Turns Red

Spot Bitcoin Exchange-Traded Funds (ETFs) recorded their largest single-day capital outflow since June, with investors collectively withdrawing $484.9 million. This significant event for the institutional Bitcoin market coincides with a period of broader economic concerns, including crude oil prices nearing $100, bond yields reaching their highest point since 2002, and persistent expectations that the Federal Reserve will continue its interest rate hiking policy.