Galaxy Research: Weak corporate buying and ETF outflows lead to Bitcoin weakness

Alex Thorn, research director at Galaxy Research, pointed out that the weakening of Bitcoin in October was affected by weak increases in corporate reserves and net outflows of spot ETFs. As of October 18th, the selling pressure of long-term holders exceeded the institutional commitment, with a cumulative net value of negative 127300 BTC during the year. The cumulative net inflow of US spot Bitcoin ETFs within the year is approximately $355 million, with a slight net outflow since October.