U.S. spot crypto ETFs posted a strong session on October 21, with Bitcoin funds drawing $528.40 million in net inflows and Ethereum products adding $14.96 million, according to data from SoSoValue.

The green numbers stand out against Bitcoin's price chart. BTC slipped from near $84,900 to around $81,650 over the same stretch, leaving institutional buyers and short-term traders pulling in opposite directions. The session also stood out as a rare jointly positive day for the two largest crypto fund categories following a stretch dominated by outflows. Daily net-flow figures track money moving through the listed funds specifically, not the broader spot market, which is one reason fund inflows and a falling token price can show up in the same session.

BlackRock's IBIT Leads $528 Million Day for Bitcoin ETFs

BlackRock's iShares Bitcoin Trust (IBIT) did most of the heavy lifting on Wednesday, taking in roughly $235 million of the $528.40 million total — close to 45% of the day's net inflows.

The daily figure followed inflows of $526.60 million on October 19 and a smaller $23.16 million on October 20. That brings cumulative net inflows for U.S. spot Bitcoin ETFs to $57.96 billion, up from $56.88 billion at the close of the prior week. The category has been accumulating capital since the first spot Bitcoin ETFs began trading in January 2024.

The recent strength marks a turnaround from early October, when Bitcoin ETFs lost $681.10 million in the week ending October 9, including a single-day outflow of $487.07 million on October 7. The following week added another $228.58 million in net withdrawals, among them a $261.46 million exit on October 14. Taken together, the flow data suggests the selling wave from early October has cooled, at least on the Bitcoin side.

Ethereum ETFs Snap Losing Streak With $14.96 Million Inflow

Ethereum funds finally broke their losing streak, giving crypto ETFs a rare day on which both major product categories closed green.

Spot Ether ETFs recorded $14.96 million in net inflows on October 21, led by Grayscale's Ethereum Mini Trust (ETH) with $28.07 million.

Before Wednesday's session, Ethereum ETFs had logged five consecutive days of outflows totaling roughly $388.82 million, including $129.51 million on October 14 and $103.28 million on October 19. October 13 was the only other green day for the products this month.

Cumulative net inflows for Ether products, which began trading in July 2024, now sit at $12.83 billion, down from $13.84 billion at the start of October — a decline of roughly $1 billion over the span. Even with Wednesday's gain, Ethereum ETFs remain about $114 million in the red for the week.

BTC Price Analysis: Can Bitcoin Build on Strong ETF Inflows?

On the 1-hour timeframe, BTC trades near $81,650 after a rejection close to $84,898, and short-term sellers have held control through the pullback.

The first hurdle sits at $82,000 to $82,300. Above that, Bitcoin faces heavier resistance between $83,000 and $83,500, then again from $84,000 to $84,900.

On the downside, immediate support rests around $81,300 to $81,500, with a deeper floor at $80,000 near the recent low of $79,800.

The technical readings lean bearish. The relative strength index (RSI) reads roughly 25 to 37, with some readings in oversold territory. That leaves room for a relief bounce, but it does not confirm a reversal.

Outlook: Could Rising ETF Demand Push BTC Higher?

Three situations stand out from here.

If BTC breaks below $81,300, the price could slide toward $80,000 and possibly retest the $79,800 low. A neutral case would see Bitcoin chop between $81,300 and $82,300 while sellers lose momentum and buyers regroup. The bullish case requires a move above $82,300, which could open the way to $83,000 and $83,500, while reclaiming the $84,000 to $84,900 zone would give the recovery real weight.

For now, the short-term outlook stays bearish. BTC needs to hold $81,300 and win back the $82,000 to $82,300 zone before traders can treat the inflows as fuel for a rebound. On the fund side, the next daily flow prints from SoSoValue will show whether October 21's joint green session extends into a multi-day pattern, or whether Ethereum products slip back after their first positive session since October 13.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency prices carry substantial volatility and capital losses. Readers should conduct independent research before making investment decisions.