Bitcoin's performance in October could be influenced by substantial selling pressure from institutional investors in the United States. This trend is reflected in the negative readings of the Coinbase Premium Index, which measures the disparity between Bitcoin prices on Coinbase Pro and other exchanges, indicating a predominance of selling activity.
Institutional investors appear to be pulling out substantial amounts from Bitcoin, possibly due to anticipated regulatory changes or market uncertainties. These outflows may be impacting Bitcoin's capacity to sustain upward momentum this month.
Furthermore, the behavior of Exchange-Traded Funds (ETFs) related to Bitcoin could also be contributing to this situation. ETF outflows suggest a withdrawal of funds from investment products linked to Bitcoin, adding to the downward pressure on its market value.
Such dynamics in the Bitcoin market underscore the significant role of institutional investors and financial products in shaping cryptocurrency trends. Observers are closely monitoring whether these selling pressures will abate or if they will continue to affect Bitcoin negatively.
