PANews reported on October 24th that according to SoSoValue data, Bitcoin spot ETFs saw a total net inflow of $20.3254 million on October 23rd (EST). BlackRock's IBIT led the way with a single-day net inflow of $108 million, bringing its total net inflow to $65.273 billion. Bitwise BITB ranked second with a net inflow of $17.4081 million, while Grayscale's GBTC saw a net outflow of $60.4850 million, bringing its cumulative net outflow to $24.616 billion.
As of press time, the total net asset value of Bitcoin spot ETFs was US$149.431 billion, accounting for 6.84% of the total market value of Bitcoin, with a historical cumulative net inflow of US$61.894 billion.



Bitcoin’s market cycles may stretch longer as ISM manufacturing data remains weak, hinting at extended macro headwinds and slower business recovery. The Institute for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI) has historically aligned with major peaks in Bitcoin’s market cycles — a pattern that, if repeated, could imply a longer-than-usual cycle this time around.The correlation between the ISM PMI and Bitcoin’s (BTC) price was first popularized by Real Vision’s Raoul Pal and has since gained traction among macro-focused crypto analysts.“All 3 past Bitcoin cycle tops have broadly aligned with this monthly, oscillating index,” analyst Colin Talks Crypto noted, referencing the recurring overlap between Bitcoin’s market highs and the PMI’s cyclical peaks.Read more