Bitcoin ETFs Shed $90M as BTC Trades 32% Below ATH

US spot Bitcoin exchange-traded funds shed $89.9 million on Monday, Oct 6, 2026. That reversed two straight days of inflows. Bitcoin slipped below $86,000 as the ETFs moved.

You might expect this to look like a turning point. It isn't quite that simple. The week ending Oct 5 had seen a third consecutive weekly inflow of $241.1 million. SoSoValue data puts cumulative net inflows at $57.8 billion.

The Numbers Behind Monday's Move

Bitcoin ETFs attracted around $293 million over the two sessions before Monday. Total trading volume reached $2.18 billion, though the source does not clearly separate Monday from those days. Bitcoin was trading at $85,559 at the time of publication. That is roughly 32% below its record of $126,080 set on Oct. 6, 2025, according to CoinGecko.

Why the Q3 Picture Still Looks Positive

Monday's outflow looks different when you widen the window. Q3 2026 was Bitcoin ETFs' strongest quarter of the year, drawing $6.34 billion in net inflows. The funds reversed about $5 billion in net outflows recorded in Q2.

Bitcoin gained 42.71% in the third quarter, its best third-quarter performance since 2017, according to CoinGlass. The run ended on a weaker note, though. September inflows closed at $2.65 billion, down around 25% from $3.52 billion in August.

Still, the year-to-date total is modest. The funds added $2.4 billion and $6.2 million in the two weeks before Monday. That brought year-to-date net inflows to around $1.2 billion, near flat for the year as covered in the Q3 analysis. The weekly read still shows positive demand, but the momentum slowed.

Ether and Altcoin Funds Follow the Trend

Ether ETFs lost $51 million on Monday, extending their losing streak to five consecutive trading days. The funds lost a combined $206 million throughout the streak. Cumulative net inflows stand at $13.8 billion.

Ether gained about 71% during Q3 after about $714 million in net outflows in Q2. The funds attracted about $3.05 billion in the quarter. XRP ETFs attracted $308 million in Q3, lifting cumulative net inflows to $1.79 billion.

Other altcoin ETFs posted mixed results on Monday. Solana funds recorded net outflows of $9.3 million. Zcash funds recorded $3.6 million in net outflows. XRP ETFs saw no net flows after posting $3.3 million in outflows on Friday.

In the week ending Oct 5, Zcash funds posted their first weekly outflow on record, shedding around $94 million. Solana and XRP ETFs extended their inflow streaks with $2.4 million and $4.7 million, respectively.

The Bigger Picture for Bitcoin ETFs

Monday’s outflow does not yet change the broader ETF picture. Bitcoin funds had just recorded their third straight weekly inflow, while Q3 remained their strongest quarter of the year with $6.34 billion in net inflows.

Alternative.me's Crypto Fear & Greed Index remained in "Greed" territory at 70, down from 74.

Market sentiment has cooled slightly, with the Crypto Fear & Greed Index falling from 74 to 70. But the reading remains in “Greed” territory, suggesting that investors have not shifted into outright fear.

The bigger question is whether Monday’s outflow marks the start of a longer slowdown or simply a short-term pullback after weeks of positive flows. The next weekly data should offer a clearer picture.

For now, Bitcoin ETF demand remains positive on a broader timeframe, even as the latest session shows that institutional flows can turn quickly when Bitcoin trades well below its all-time high.