US-listed spot Bitcoin exchange-traded funds posted another day of net inflows on Wednesday, taking in $137 million and extending their positive run to three consecutive sessions. The latest additions brought the three-day total to roughly $424 million and pushed October back into net positive territory with two trading days still remaining in the month.

The rebound came after October had stayed negative through Tuesday, following nearly $774 million in outflows over the final two trading days of the previous week. While crypto prices softened after the latest Federal Reserve decision, Bitcoin ETF demand was strong enough to offset part of that late-month slide.

Three-day recovery changes the monthly picture

Wednesday’s inflow lifted October net inflows for US spot Bitcoin ETFs to $111 million. That marks a reversal from earlier in the week, when the month’s cumulative flows were still below zero.

The turnaround was driven by about $424 million in fresh inflows over the past three trading sessions. Those gains followed a sharp setback at the end of the previous week, when investors pulled almost $774 million from the products across the last two trading days.

Fed decision offered little support to risk assets

The ETF recovery unfolded alongside a Federal Reserve decision to leave its benchmark interest rate unchanged at a target range of 3.75% to 4%. Fed Chair Kevin Warsh also said inflation was still running above the central bank’s 2% target.

With the Fed offering limited new direction, the near-term outlook for Bitcoin may hinge more on other macro indicators, including Treasury yields, the direction of the US dollar and broader risk sentiment. The source article framed those factors as likely to carry more weight in the absence of a clearer policy signal.

Bitcoin and Ether both traded lower

Despite the improvement in Bitcoin ETF flows, the underlying asset was weaker on the day. Bitcoin changed hands at about $79,848 at the time of writing, down roughly 1% over the previous 24 hours.

Ether also declined, trading near $2,310, a drop of 1.7% over the same period. The price weakness came as overall crypto sentiment remained softer even while Bitcoin-linked funds attracted new capital.

Ether ETFs remain under pressure

US spot Ether ETFs continued to move in the opposite direction from their Bitcoin counterparts. The products recorded another $21 million in net outflows on Wednesday.

That pushed October’s cumulative net outflows for Ether ETFs to $1.35 billion. With only two trading sessions left in the month, the contrast between demand for Bitcoin funds and continuing withdrawals from Ether products remained pronounced.

What comes next before month-end

The immediate next step is whether Bitcoin ETFs can hold their inflow streak through the final two trading sessions of October. Another positive stretch would add to the month’s now-slim net gain, while renewed withdrawals could quickly erase it.

For Ether ETFs, the confirmed trend remains continued monthly outflows. Until the final sessions close the books on October, the key watchpoints are whether Bitcoin funds can preserve their return to positive territory and whether Ether products show any sign of stabilizing.

Source: cointelegraph.com