The Bitcoin Open Interest 7-day moving average fell below its 365-day moving average in October for the second time since August 25, signaling cautious speculative interest. Spot Bitcoin ETF flows posted net outflows for the second consecutive week, with $434 million in outflows for the week ending October 9, although 30-day flows remain positive at +15.4k BTC. Spot demand has turned negative again while Bitcoin reserves on exchanges remain low, undermining prospects for a durable BTC recovery.
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