Reviewed by Reviewed by Jibin Mathew George Updated 00:00 EDT October 1, 2026 Share Share Share Back to Top U.S Spot Bitcoin ETF demand has been massive over the past two weeks, but the pace of inflows has dropped considerably
The ETF complex saw a 9-day streak of net inflows totaling $3B. However, beyond the headline, the daily demand dropped from nearly $1B to a low of $31M on Monday. That alluded to a 96% decline in institutional appetite
For his part, CryptoQuant analyst JA Maartun stated, “Bitcoin ETF demand is cooling fast” amid increasing potential sell-side pressure
According to him, short-term holders (STH) have sent 45K BTC to exchanges, which could further derail the asset’s extended recovery
Price looks calm. Under the surface? ~45,054 BTC from Short-Term Holders just moved onto exchanges in 24H. That’s a lot of potential sell-side supply
It’s worth noting though that macro pressure has been a key driver behind the ETF fluctuation and subsequent BTC price pullback from $87K to below $84K. Even so, Binance CEO Richard Teng was still positive about the market
The macro backdrop remains challenging, with high U.S. yields continuing to pressure risk assets. However, investor demand is showing signs of improvement
In fact, Tuesday’s weak labor report has cleared the Fed rate hike fears ahead of the late October FOMC meeting. At the time of writing, the odds of another 0.25% rate hike had slipped to 42% while the chances for a rate pause surged to 57%
The Non-Farm Payroll report, expected on Friday, 2nd October, will confirm whether the U.S labor market is indeed weakening. If so, the Fed will opt to hold the interest rate unchanged. That would boost risk assets, including Bitcoin
On the contrary, if the Friday Payroll data hints at a strong labor market, then the rate hike fears may come back. So, Friday may decide if BTC pushes forward or drags lower
Surprisingly, Option traders have been aggressively betting on a potential upside rally to $90K and $95K. This was illustrated by the highest Open Interest (OI) dominated by calls (blue bars) targeting strike prices of $90K, $95K, and $100K
Simply put, BTC has tried to hold above $80K despite macro-driven pressure and a 96% dip in ETF demand in the past week
Whether Friday’s labor report will renew the recovery remains to be seen. However, some traders may already be betting on an upside move towards $90K and above
Benjamin Njiri is a Crypto Analyst and Reporter at AMBCrypto, specializing in technical analysis and emerging market trends. With a background in Telecoms engineering and power systems, he applies data analysis to filter market noise and decode on-chain data. His work delivers clear, data-driven insights that help readers navigate crypto markets with confidence
