Bitcoin’s ‘Uptober’ Stalls as Price Dips 2% Amid ETF Outflows

Bitcoin's 'Uptober' — Bitcoin has failed to deliver its historically bullish ‘Uptober’ performance so far this month, with its price down 2% since October began despite a recent rally back above $82,000.

Data from Farside Investors shows U.S. investors were net sellers of spot Bitcoin ETFs last week, redeeming $228.4 million worth of shares from funds managed by BlackRock, Fidelity, and Grayscale. These ETFs are a primary conduit for mainstream investor exposure and have been a key driver of Bitcoin’s price movements.

Despite the slow start to October, analysts note Bitcoin remains in a bull market, having spent most of 2026 trading below $70,000—far from its all-time high of $126,080. The asset rallied strongly in August and September, posting its best third quarter since 2024, partly fueled by a ‘debasement trade’ as the U.S. dollar weakened.

The recent price action highlights the choppy and sentiment-driven nature of the current market phase, where ETF flows continue to exert significant influence on Bitcoin’s short-term trajectory.