Bitcoin News Today: Trader Nabs $17M Profits as Crypto ETFs Bleed $120M in Outflows

Bitcoin and Ethereum ETFs returned to outflows in October, reflecting deepening investor caution amid broader market weakness. According to data from SoSoValue, Bitcoin ETFs recorded $101.3 million in withdrawals on October 22, reversing a $477 million inflow the previous day, as reported in a Crypto.News report. Ethereum ETFs also saw $18.8 million in outflows after a brief rebound, per a Coinpedia report. The pullback underscored fading confidence as both assets struggled to regain momentum, with Bitcoin trading near $109,783 and Ethereum near $3,869, the Crypto.News report added. BlackRock's IBIT managed $73.6 million in inflows, but Fidelity's FBTC and Grayscale's GBTC each lost $56 million, highlighting broad hesitancy, the Coinpedia report noted.

Amid the volatility, a crypto trader dubbed "0xc2a" defied the trend, pocketing $17 million in profits from long positions on Bitcoin and Ethereum, according to Yahoo Finance. The trader's success came after a turbulent week that saw over $20 billion in leveraged positions liquidated following President Trump's announcement of a 100% tariff on Chinese imports. Blockchain data shows 0xc2a accumulated positions as prices dipped below $105,000, then capitalized on a 4% rebound in Bitcoin and a 2% gain in Ethereum. His $300 million-long portfolio, including 1,483 BTC and 33,270 ETH, signals strong conviction in a market still grappling with uncertainty.

Ethereum's price action has drawn particular attention as it approaches the $4,000 level, a psychological threshold seen as a potential catalyst for further gains. Short traders have deployed $650 million in leverage around the $4,100 mark ahead of Trump's trade talks with China, according to a Yahoo Finance analysis. Analysts note that Ethereum's Proof-of-Stake transition and energy efficiency have made it more attractive to institutional investors, with treasury firms now holding 3.2 million ETH—surpassing Bitcoin's corporate holdings, the Yahoo Finance analysis added. Republic Technologies, which raised $100 million to expand its validator-backed Ethereum treasury, has likened ETH's role to oil in the 1970s, emphasizing its foundational potential, in a CryptoNews report.

Trump's policies continue to shape market sentiment. The president's Asia tour, including a peace treaty signing between Cambodia and Thailand, eased geopolitical tensions ahead of critical trade discussions with China, the Yahoo Finance analysis said. Meanwhile, his nomination of SEC lawyer Mike Selig to lead the CFTC and pardoning of Binance founder Changpeng Zhao highlight regulatory shifts that could impact crypto markets, as outlined in a Crypto.News weekly recap. SpaceX's recent $133 million Bitcoin transfers also signaled renewed institutional interest, the recap added.

Corporate activity remains muted, with Tesla holding steady at 11,500 BTC despite Q3 2025 earnings beating expectations, according to a Coinpedia report. JPMorgan's plans to allow crypto collateral lending and Kyrgyzstan's launch of the KGST stablecoin further illustrate the asset class's integration into traditional finance, the Crypto.News weekly recap noted.

Technical indicators suggest Bitcoin could test $117,000 if it holds above $108,000, with a Wyckoff reaccumulation pattern pointing to potential bullish momentum, according to a Yahoo report. However, a breakdown below $106,000 could trigger a retest of the $92,000 support level, the report added. Analysts like Farzam Ehsani of VALR project BTC reaching $130,000–$132,000 by early 2026, contingent on macroeconomic stability, the Yahoo analysis noted.