Bitcoin News Today: Bitcoin's Onchain Surge and Miner Growth Clash with ETF Exodus and Fed Jitters

Bitcoin's onchain inflows have pushed its realized capitalization above $1.1 trillion, a $8 billion surge driven by treasury firms and ETFs, yet the asset's recovery remains constrained by waning ETF demand and macroeconomic uncertainty. The recent $19 billion crypto market crash in October has left sentiment in "Fear" territory, with investors closely watching whether renewed institutional buying and Federal Reserve policy shifts can reignite bullish momentum, according to a TradingView report.

U.S. Bitcoin ETFs recorded $470.71 million in net outflows on October 29, marking the end of a four-day inflow streak, according to a Coinpedia report. Fidelity's FBTC and Ark & 21Shares led the exodus with $164.36 million and $143.80 million outflows, respectively, a BeInCrypto report found. Ethereum ETFs also saw $81.44 million in outflows, with only BlackRock's ETHA registering inflows. Analysts attribute the selloff to Fed Chair Jerome Powell's remarks suggesting the October 25-basis-point rate cut might be the last of 2025, sparking fears of tighter monetary policy, according to a Crypto.news report.

The outflows contrast with earlier months of sustained inflows, highlighting the fragility of investor confidence in crypto as a volatile asset class, as BeInCrypto reported. Despite the pullback, Bitcoin ETFs hold $149.98 billion in net assets — 6.75% of Bitcoin's market cap — while Ethereum ETFs manage $26.60 billion, or 5.58% of ETH's total value, Coinpedia noted.

Bitcoin's price dropped 3.71% to $108,325.44 in the wake of Fed uncertainty, while Ethereum fell 2.68% to $3,904.19, per Coinpedia. However, a U.S.-China trade deal announced in late October briefly lifted market sentiment. The agreement, which suspends tariffs on Chinese goods until 2026 and addresses rare earth mineral controls, caused the Crypto Fear & Greed Index to rise to 37 from 33, according to a Coinotag article. Analysts like Michael van de Poppe argue the October 11 crash marked a "bottom day in hindsight," a view noted in the same Coinotag piece.

Bitcoin's price rebounded above $111,300 following Trump's announcement of reduced tariffs on China, though the rally lacked sustained momentum, according to a TradingView article. Deribit's data shows a shrinking volatility premium for downside puts, indicating easing short-term fears, as reported in a Yahoo Finance report. Yet, experts caution that China's lack of public confirmation on rare earth agreements and Fed policy ambiguity leave room for volatility, a point raised by the TradingView article.

Bitcoin miners are expanding operations, with the hash rate rising as firms like American Bitcoin — which is linked to the Trump family — purchase 17,280 ASICs for $314 million, the TradingView report observed. Ki Young Ju of CryptoQuant described the trend as a "clear long-term bullish signal," noting that miner activity bolsters network security and adoption in a Coinotag analysis.

Despite these developments, Bitcoin's price recovery hinges on renewed ETF inflows. Ki Young Ju emphasized that demand is currently driven by ETFs and MicroStrategy, both of which have slowed purchases, the TradingView report added. Bitfinex analysts project Bitcoin could reach $140,000 by November if ETF inflows rebound to $10–15 billion and the Fed cuts rates twice in Q4, as the TradingView piece noted.

Bitcoin's onchain metrics and miner expansions suggest underlying strength, but structural shifts in ownership — such as older holders offloading coins to institutional buyers — signal a maturing market, according to a BeInCrypto piece. While short-term volatility persists, analysts remain cautiously optimistic about Bitcoin's long-term trajectory, provided macroeconomic conditions stabilize and ETF demand resumes, as the TradingView report concluded.