Key Takeaways
- • Bitcoin traded at $81,558.1, down 0.73%, as of 01:49 ET on Saturday, holding above $81,000 after briefly dipping below $80,000 earlier in the week.
- • U.S. spot Bitcoin ETFs recorded $82.39 million in net outflows on October 16, with BlackRock's iShares Bitcoin Trust (IBIT) accounting for $71.78 million of the withdrawals.
- • Weekly ETF flows were uneven: $65.4 million in outflows on October 12, $175.7 million in inflows on October 13, and approximately $261.4 million in outflows on October 14.
- • Circle Internet Group disclosed approximately $1.4 billion in first-half 2026 revenue and processed more than $36 trillion in onchain transactions, with about 77% of global stablecoin transaction volume in June; it reports third-quarter earnings on November 4.
Summary
Bitcoin was trading above $81,000 on Saturday as investors weighed mixed U.S. spot Bitcoin ETF flows and persistent concerns over institutional demand, according to Investing.com. The world's largest cryptocurrency was down 0.73% at $81,558.1 as of 01:49 ET (05:49 GMT) after a volatile week in which prices briefly fell below $80,000 before recovering. Bitcoin reached a weekly high above $84,000 earlier in the week but struggled to sustain those gains amid stronger U.S. economic data and expectations of further Federal Reserve interest rate increases.
Spot Bitcoin ETFs recorded $82.39 million in net outflows on October 16, according to Coinfomania, with BlackRock's iShares Bitcoin Trust (IBIT) accounting for $71.78 million. The article notes that these withdrawals reflected investor redemptions rather than a strategic decision by BlackRock to reduce its own Bitcoin exposure. Across the week, flows were uneven: funds recorded $65.4 million in net withdrawals on October 12, entirely attributable to IBIT, then $175.7 million in inflows on October 13, led by a fund that received $103.1 million and IBIT with $65.9 million. Selling resumed on October 14, when funds recorded approximately $261.4 million in withdrawals. Investment products also faced $69.68 million in outflows on October 16.
In separate developments, stablecoin issuer Circle Internet Group (NYSE) disclosed approximately $1.4 billion in revenue during the first half of 2026. The company paid $819 million to distribution partners and transaction costs and reinvested approximately $473 million in infrastructure, compliance and product development. Circle said it processed more than $36 trillion in onchain transactions and accounted for approximately 77% of global stablecoin transaction volume in June. The company is scheduled to report third-quarter earnings on November 4.
Broader crypto markets were mostly lower early Saturday. Ether fell 0.79% to $2,428.20. Traders are now watching whether renewed ETF demand can support a recovery toward $83,000, while further withdrawals could increase pressure on the $80,000 level.
Spot Bitcoin ETFs recorded $82.39 million in net outflows on October 16, according to Coinfomania, with BlackRock's iShares Bitcoin Trust (IBIT) accounting for $71.78 million. The article notes that these withdrawals reflected investor redemptions rather than a strategic decision by BlackRock to reduce its own Bitcoin exposure. Across the week, flows were uneven: funds recorded $65.4 million in net withdrawals on October 12, entirely attributable to IBIT, then $175.7 million in inflows on October 13, led by a fund that received $103.1 million and IBIT with $65.9 million. Selling resumed on October 14, when funds recorded approximately $261.4 million in withdrawals. Investment products also faced $69.68 million in outflows on October 16.
In separate developments, stablecoin issuer Circle Internet Group (NYSE) disclosed approximately $1.4 billion in revenue during the first half of 2026. The company paid $819 million to distribution partners and transaction costs and reinvested approximately $473 million in infrastructure, compliance and product development. Circle said it processed more than $36 trillion in onchain transactions and accounted for approximately 77% of global stablecoin transaction volume in June. The company is scheduled to report third-quarter earnings on November 4.
Broader crypto markets were mostly lower early Saturday. Ether fell 0.79% to $2,428.20. Traders are now watching whether renewed ETF demand can support a recovery toward $83,000, while further withdrawals could increase pressure on the $80,000 level.
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