Bitcoin Whales End Selling Spree, Adding $2.9 Billion in 60 Days

Bitcoin whales have ended a selling spree and added $2.9 billion over 60 days, according to the headline, while U.S. spot Bitcoin ETFs took in $524.8 million on Wednesday, extending a three-day inflow streak to roughly $1.07 billion and flipping October positive by about $460 million, Decrypt reported on 2026-08-18. The buying returned after two weeks in which the funds lost about $910 million. Despite the inflows, Bitcoin fell 2.4% to about $81,470, and Myriad traders give it only a 20% chance of topping $87,500 in October. Ethereum ETFs snapped a five-day outflow streak with a $14.9 million inflow but remain down about $1.07 billion for the month.

Background

The source describes a sharp reversal in ETF flows. Through last Friday, U.S. spot Bitcoin ETFs had shed about $615 million in October; three trading days of inflows were enough to flip the month positive by roughly $460 million. Monday's $526.7 million haul, the funds' best day since Sept. 22, came entirely from BlackRock's IBIT. Before the rebound, the funds had lost about $910 million over two weeks. Cumulative net inflows since launch stand at $58.4 billion, with total net assets at $100.8 billion. The return of buyers coincides with a long-term confidence signal: J.P. Morgan Asset Management this week projected a 10% compound annual return for Bitcoin over the next 10 to 15 years in its first long-term forecast for the asset, while cautioning about 55% volatility. Ethereum ETFs took in $14.9 million on Wednesday, snapping a five-day outflow streak that drained about $389 million, but remain deep in the red for October, down roughly $1.07 billion, with cumulative net inflows at $12.8 billion. The inflows have not lifted prices: Bitcoin traded at about $81,470, down 2.4% over 24 hours but up 2% on the week, after hitting a weekly high near $85,000 just yesterday. Ethereum fell 2.6% to roughly $2,393, and the total crypto market cap slipped 2.9% to $2.84 trillion. Zcash was among the hardest hit in the top 10, dropping 5.6%, though it remains up nearly 14% over seven days.

What happened

Decrypt reported on 2026-08-18 that U.S. spot Bitcoin ETFs took in $524.8 million on Wednesday, according to Decrypt's ETF tracker, stretching an inflow streak that began Monday to three sessions and roughly $1.07 billion. That was enough to flip the month positive: after shedding about $615 million through last Friday, the funds are now up roughly $460 million for October. Monday's $526.7 million haul, the funds' best day since Sept. 22, came entirely from BlackRock's IBIT. The rebound follows two weeks in which the funds lost about $910 million. Cumulative net inflows since launch stand at $58.4 billion, with total net assets at $100.8 billion. The source also reports that J.P. Morgan Asset Management this week projected a 10% compound annual return for Bitcoin over the next 10 to 15 years in its first long-term forecast for the asset, while cautioning about 55% volatility. Ethereum ETFs took in $14.9 million on Wednesday, snapping a five-day outflow streak that drained about $389 million; they remain down roughly $1.07 billion for October, with cumulative net inflows at $12.8 billion. Prices did not follow the flows: Bitcoin traded at about $81,470 on Thursday, down 2.4% over 24 hours but still up 2% on the week, after hitting a weekly high near $85,000 just yesterday. Ethereum fell 2.6% to roughly $2,393, and the total crypto market cap slipped 2.9% to $2.84 trillion. Zcash dropped 5.6% in the top 10 but remains up nearly 14% over seven days. Myriad traders give Bitcoin just a 20% chance of topping $87,500 before October ends and 9% odds of reaching $90,000; they put the odds of a drop to $77,500 at 35%, and Bitcoin already briefly slipped below $80,000 last week. On Ethereum, Myriad users give ETH a 61.3% chance of pumping to $3,000 before dumping to $1,500. The Federal Reserve next meets on Oct. 27-28, with persistent inflation keeping another rate hike on the table, Decrypt notes.

Market impact

The figures in the source show flows and prices moving in opposite directions. Spot Bitcoin ETFs took in $524.8 million on Wednesday, bringing a three-day streak to about $1.07 billion and flipping October positive by roughly $460 million after a $615 million outflow through last Friday. Monday's $526.7 million, the best day since Sept. 22, came entirely from BlackRock's IBIT. The rebound follows two weeks in which the funds lost about $910 million. Cumulative net inflows since launch stand at $58.4 billion, with total net assets at $100.8 billion. Ethereum ETFs took in $14.9 million on Wednesday, snapping a five-day outflow streak that drained about $389 million, but remain down roughly $1.07 billion for October; cumulative net inflows stand at $12.8 billion. Prices fell: Bitcoin traded at about $81,470, down 2.4% over 24 hours but up 2% on the week, after a weekly high near $85,000 just yesterday. Ethereum fell 2.6% to roughly $2,393, and the total crypto market cap slipped 2.9% to $2.84 trillion. Zcash dropped 5.6% in the top 10 but remains up nearly 14% over seven days. Myriad traders give Bitcoin a 20% chance of topping $87,500 before October ends and 9% odds of reaching $90,000, with 35% odds of a drop to $77,500; Bitcoin already briefly slipped below $80,000 last week. Myriad users give ETH a 61.3% chance of pumping to $3,000 before dumping to $1,500. The Federal Reserve next meets on Oct. 27-28, with persistent inflation keeping another rate hike on the table.

Why it matters

The source supports a few consequences. First, the ETF inflow streak has erased October's losses in three trading days, showing how quickly flow sentiment can reverse after a $910 million two-week drawdown. Second, the buying is concentrated: Monday's $526.7 million came entirely from BlackRock's IBIT, which the source presents as a single-fund driver of the streak. Third, the inflows have not lifted prices, with Bitcoin down 2.4% to about $81,470 and the total crypto market cap down 2.9% to $2.84 trillion, suggesting ETF demand and spot price are diverging in the short term. Fourth, J.P. Morgan Asset Management's first long-term forecast, projecting a 10% compound annual return over 10 to 15 years while cautioning about 55% volatility, is described as a fresh vote of long-term confidence from Wall Street. Fifth, prediction markets are not betting on a breakout: Myriad traders give Bitcoin just a 20% chance of topping $87,500 before October ends and 9% odds of reaching $90,000, while putting 35% odds on a drop to $77,500. Finally, the source flags the Federal Reserve's Oct. 27-28 meeting, with persistent inflation keeping another rate hike on the table, as a catalyst to watch.