Bitcoin faced weakness in October due to low treasury company buying and ETF outflows, Alex Thorn notes

Bitcoin faced weakness in October due to low treasury company buying and ETF outflows, Alex Thorn notes
Bitcoin hit by weak ETF flows in October

Weak treasury company purchasing activity and ETF outflows contributed to bitcoin’s weakness in October. Alex Thorn described a metric measuring Institutional Absorption versus OG Distribution as the sum of ETF net flow and BTC treasury company net flow, minus the awakening of coins dormant for over five years onchain.

Thorn previously observed that most bitcoin remains in self-custody despite the rise in institutional and centralized ownership, as reported in a prior analysis. He has also covered technical developments, including the recent solution of a bitcoin genesis block puzzle involving weak entropy in a multisig setup, detailed in another article. These earlier findings provide context for his current assessment of institutional absorption and onchain activity.

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