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# Bitcoin Slips 0.28% on Oct 23, 2026 as ETF Outflows Hit $635M
- URL: https://bullquill.com/crypto-daily-brief-2026-10-23/
- Published: 2026-10-24T00:19:13.000Z
- Updated: 2026-10-24T00:19:13.000Z
- Description: Bitcoin ended the UTC day of October 23 almost flat at $81,102.31 after US spot bitcoin ETFs posted their largest daily outflow since June and high oil prices kept Fed rate-hike bets alive.
- Author: Rowan Ashby
- Tags: Crypto, Daily Brief, Bitcoin, Ethereum, Bitcoin ETF, Federal Reserve, BlackRock, #lang-en, #tr-crypto-daily-brief-2026-10-23

Bitcoin slipped 0.28% to $81,102.31 over the UTC day of October 23, 2026, according to CoinGecko, after US spot bitcoin ETFs posted a $635.5 million net outflow and high oil prices kept bets on a Federal Reserve rate hike alive.

*Data as of: CoinGecko hourly data for the UTC day of October 23, 2026 (00:00 to 24:00 UTC), with global and altcoin snapshots taken between 00:06 and 00:14 UTC on October 24\. ETF flows run through October 22, the latest published US trading day.*

## Key takeaways

- Bitcoin fell $225.89 (−0.28%) to $81,102.31 between 00:00 UTC on October 23 and 00:00 UTC on October 24, CoinGecko hourly data show. It traded between $80,726.44 and $81,894.45 on an hourly basis.
- Ether was almost unchanged, down $1.73 (−0.07%) to $2,384.75 over the same UTC day, according to CoinGecko.
- US spot bitcoin ETFs lost a net $635.5 million on October 22, the largest daily outflow since June, according to TFTC and The Block. BlackRock's IBIT ($254.1 million) and Fidelity's FBTC ($217.5 million) led the withdrawals.
- Spot ether ETFs saw a net outflow of $110.6 million on October 22, The Block reported, citing SoSoValue data.
- The total crypto market was valued at $2.73 trillion at 00:06 UTC on October 24, with bitcoin dominance at 59.51%, according to CoinGecko.

## Session recap

After Thursday's broad sell-off, Friday was a quieter session for crypto. Bitcoin climbed to its hourly high near 14:00 UTC, briefly trading close to $82,000 in the afternoon, then drifted lower into the US evening and hit its hourly low at 23:00 UTC. For the wider picture, see [Asian and global markets today](https://bullquill.com/markets/) and our [October 22 crypto brief](https://bullquill.com/crypto-daily-brief-2026-10-22/), which covers the oil- and chip-driven drop that set up this session.

__Crypto market, UTC day October 23, 2026__
| Instrument              | Close/Level    | Change         | % change | As of (UTC)      | Source                 |
| ----------------------- | -------------- | -------------- | -------- | ---------------- | ---------------------- |
| Bitcoin (BTC)           | $81,102.31     | −$225.89       | −0.28%   | 2026-10-24 00:00 | CoinGecko hourly       |
| Ether (ETH)             | $2,384.75      | −$1.73         | −0.07%   | 2026-10-24 00:00 | CoinGecko hourly       |
| Total crypto market cap | $2.73 trillion | −$84.4 billion | −3.00%   | 2026-10-24 00:06 | CoinGecko global (24h) |
| Bitcoin dominance       | 59.51%         | +0.05 pt       | +0.08%   | 2026-10-24 00:06 | CoinGecko global       |
| BNB                     | $738.08        | +$8.14         | +1.12%   | 2026-10-24 00:14 | CoinGecko (24h)        |
| XRP                     | $1.29          | −$0.0153       | −1.17%   | 2026-10-24 00:14 | CoinGecko (24h)        |
| Solana (SOL)            | $102.53        | −$0.99         | −0.96%   | 2026-10-24 00:14 | CoinGecko (24h)        |

Bitcoin and ether changes are calculated from CoinGecko's hourly prices at 00:00 UTC on October 23 ($81,328.21 and $2,386.48). Altcoin changes use CoinGecko's 24-hour price change. The market-cap change is CoinGecko's own 24-hour aggregate, which looks large next to the small moves in the biggest coins; other trackers use different methods. Dominance is compared with CoinGecko's 59.46% reading at 00:13 UTC on October 23\. Stablecoins Tether (USDT, $182.48 billion) and USD Coin (USDC, $71.68 billion) held near $1.

__US spot crypto ETF net flows, October 22, 2026 (latest published day)__
| Fund group                               | Net flow        | Source                |
| ---------------------------------------- | --------------- | --------------------- |
| All US spot bitcoin ETFs                 | −$635.5 million | TFTC                  |
| BlackRock iShares Bitcoin Trust (IBIT)   | −$254.1 million | TFTC; The Block       |
| Fidelity Wise Origin Bitcoin Fund (FBTC) | −$217.5 million | TFTC; The Block       |
| ARK 21Shares Bitcoin ETF (ARKB)          | −$109.4 million | TFTC; The Block       |
| All US spot ether ETFs                   | −$110.6 million | The Block (SoSoValue) |

The outflow came after inflows of $526.6 million on October 19, $23.2 million on October 20 and $528.4 million on October 21, TFTC data show. The Block said bitcoin ETFs were still $442.7 million in the black for the week through Thursday, while TFTC puts October's month-to-date total at −$174.5 million. Flow data for Friday, October 23 had not been published when this brief was compiled. Our [guide to reading bitcoin ETF inflows and outflows](https://bullquill.com/bitcoin-etf-flows-explained/) explains how these numbers are collected.

## What drove it

### ETF selling and weaker demand

The $635.5 million outflow on Thursday was the main crypto-specific story going into Friday. The Block reported that at least $440 million of leveraged crypto positions were liquidated over the 24 hours to Friday morning, including $397 million of long positions, citing CoinGlass. Lorris Beziers of Tesseract Group told The Block that if inflows fade and bitcoin's recent floor breaks, "the demand picture has weakened." Jeff Anderson of STS Digital said bitcoin remained closely tied to technology stocks.

### Oil, inflation and the Fed

Energy prices stayed high. Brent crude settled at $116.72 a barrel on Friday and WTI at $103.27, according to Newsquawk figures cited in our [October 23 US stocks brief](https://bullquill.com/us-stocks-daily-brief-2026-10-23/). FXStreet linked the rise to Middle East tensions, including Houthi strikes on Saudi energy infrastructure and warnings from Iran's Revolutionary Guard. Higher fuel costs feed inflation worries. FXStreet reported that CME FedWatch showed close to a 90% chance the Fed holds rates at 3.75%–4.00% on October 28 and about 10.5% odds of a hike.

### US data and yields

S&P Global's flash October composite PMI eased to 57.6 from 58.4, FXStreet reported, with services at 57.9 and manufacturing at 56.0\. The University of Michigan's final October sentiment index was 48.0\. US Treasury data show the 10-year par yield rose to 5.00% and the 2-year to 4.69%. Higher yields make non-yielding assets such as bitcoin relatively less attractive to some investors.

### Stocks and AI spending

US stocks fell for a second day. The S&P 500 lost 0.52% and the Nasdaq Composite 0.21%, according to Yahoo Finance. Simon-Peter Massabni of XS.com told FXStreet that the AI investment boom "appears to be draining liquidity from other markets," including crypto. Bitcoin's narrow range on Friday suggests it did not follow the Dow's sharper 1.23% drop.

### Ether-specific news

The Ethereum Foundation postponed the Glamsterdam upgrade on the Hoodi test network after developers raised concerns about a gas-pricing change, EIP-8037\. Ether was flat on the day, so there is no clear sign the delay moved the price. Details are in our [report on the Glamsterdam delay](https://bullquill.com/ethereum-glamsterdam-hoodi-upgrade-postponed/).

## Political & policy watch

- **Federal Reserve.** The FOMC meets on October 27–28, with the decision due on October 28, according to the Fed's calendar. Markets price a hold as the most likely outcome, per CME FedWatch data cited by FXStreet.
- **Middle East.** FXStreet reported escalating fighting between Saudi Arabia and the Iran-backed Houthis and warnings from Iran's Revolutionary Guard over possible US strikes. These reports have kept oil, and with it inflation expectations, elevated.
- **Switzerland.** BIT Asset Management said Swiss regulator FINMA approved its Bitcoin Fund ETF (BBIT), which is expected to start trading on SIX Swiss Exchange in November, FXStreet reported.
- **US stablecoin rules.** The OCC's final GENIUS Act rule, issued on October 21, takes effect on January 18, 2027, CoinDesk reported. Other agencies are still drafting their rules.
- **US elections.** The November 3 midterms will shape the next Congress and the outlook for crypto market-structure legislation.

## What to watch next

- **October 26 (Monday):** US spot bitcoin and ether ETF flow data for Friday, October 23.
- **October 27–28:** FOMC meeting; statement on October 28 at 18:00 UTC (14:00 ET), per the Federal Reserve calendar.
- **October 30 (Friday):** Monthly crypto options expiry on Deribit.
- **November 3:** US midterm elections.
- **November:** Expected start of trading for the BBIT spot bitcoin ETF on SIX Swiss Exchange.
- **December 8–9:** Next FOMC meeting, with new economic projections.

## Risk checklist for readers

- **ETF data comes with a lag.** Daily flow figures normally cover the previous US trading day, so the figure published on any given day describes trading from the day before.
- **Watch the Fed date.** Rate decisions and the press conference afterwards can move crypto sharply within minutes, in either direction.
- **Oil feeds into rates.** Energy prices affect inflation expectations, which affect the odds of rate hikes and demand for riskier assets.
- **Leverage can speed up moves.** Liquidation totals differ by data provider and snapshot time; compare figures from the same source.
- **Aggregates differ.** Total market cap and dominance readings change with each tracker's coin list and method, as the 24-hour market-cap figure above shows.
- **Weekend liquidity is thinner.** Crypto trades around the clock, but fewer traditional market participants are active on Saturdays and Sundays.
- **Check primary sources.** For rules and rate decisions, read the Federal Reserve, OCC, SEC and CFTC websites directly.

## Frequently asked questions

### Why is Bitcoin down today?

On October 23, 2026, bitcoin slipped 0.28% to $81,102.31 over the UTC day, according to CoinGecko. The Block and TFTC reported a $635.5 million net outflow from US spot bitcoin ETFs on October 22, and FXStreet linked weak risk appetite to oil prices above $100 and bets that the Fed could keep rates high.

### What are bitcoin ETF outflows?

An outflow happens when investors redeem more ETF shares than they buy, so the fund shrinks. Trackers such as TFTC, Farside and SoSoValue publish net flows for each US trading day, usually the evening after or the next morning.

### What is bitcoin dominance?

Bitcoin dominance is bitcoin's share of the total value of all cryptocurrencies. A rising reading means bitcoin is holding up better than the rest of the market. Readings vary between trackers because each covers a different list of coins.

## Sources

- [CoinGecko: Bitcoin price and hourly market data](https://www.coingecko.com/en/coins/bitcoin?ref=bullquill.com)
- [CoinGecko: Ethereum price and hourly market data](https://www.coingecko.com/en/coins/ethereum?ref=bullquill.com)
- [CoinGecko: Global crypto market cap and dominance](https://www.coingecko.com/en/global-charts?ref=bullquill.com)
- [CoinGecko: Cryptocurrency prices by market cap (BNB, XRP, Solana, Tether, USD Coin)](https://www.coingecko.com/?ref=bullquill.com)
- [TFTC: Bitcoin ETF Flows, October 2026](https://www.tftc.io/bitcoin-etf-flows/october-2026?ref=bullquill.com)
- [The Block: Bitcoin ETFs swing back to net outflows as $636 million in withdrawals erase previous day's inflows (Oct 23, 2026)](https://www.theblock.co/news/markets/2026-10-23-bitcoin-etfs-swing-back-to-net-outflows-erase-previous-day-inflows-426483?ref=bullquill.com)
- [FXStreet: Bitcoin vs Gold: BTC ticks up near $82K as US S&P Services PMI eases (Oct 23, 2026)](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-vs-gold-btc-ticks-up-near-82k-xau-tests-4-000-as-us-sp-services-pmi-eases-202610231523?ref=bullquill.com)
- [FXStreet: Bitcoin Weekly Forecast: BTC extends pullback as ETF inflows clash with risk-off sentiment (Oct 23, 2026)](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-btc-extends-pullback-as-etf-inflows-clash-with-risk-off-sentiment-202610231059?ref=bullquill.com)
- [Yahoo Finance: S&P 500 (^GSPC)](https://finance.yahoo.com/quote/%5EGSPC/?ref=bullquill.com)
- [US Treasury: Daily Par Yield Curve Rates, October 2026](https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily%5Ftreasury%5Fyield%5Fcurve&field%5Ftdr%5Fdate%5Fvalue%5Fmonth=202610&ref=bullquill.com)
- [Federal Reserve: FOMC meeting calendars](https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm)
- [CoinDesk: OCC's final rule on stablecoin rewards under the GENIUS Act (Oct 21, 2026)](https://www.coindesk.com/policy/2026/10/21/occ-s-final-rule-to-start-fresh-in-weighing-stablecoin-rewards-against-genius-act-ban?ref=bullquill.com)

This article is for information only and is not investment advice.