$89.9 million flowed out of bitcoin spot exchange-traded funds (ETFs), snapping a two-day inflow streak.

Cointelegraph, a blockchain media outlet, reported on Oct. 6 local time that bitcoin fell below $86,000 and net flows for bitcoin spot ETFs turned back to outflows.

The net outflow comes after about $293.0 million entered over the prior two trading sessions in October. Total trading volume over the same period was $2.18 billion. Markets see ETF flows turning defensive as bitcoin weakens.

Bitcoin traded around $85,559 as of the day. That is about 32 percent below the all-time high of $126,080 recorded in October 2025. With one day to go before the first anniversary of the all-time high, the wide gap from the peak appears to be weighing on market sentiment.

The change in flows was also seen in cumulative figures. Cumulative net inflows into bitcoin spot ETFs slipped 5.8 percent from about $61.3 billion at the time of the all-time high to $57.7 billion. With the price correction dragging on, some funds that had flowed into ETFs have come out.

Ethereum spot ETFs also stayed weak. Ethereum spot ETFs posted net outflows of about $51.0 million on the day, extending withdrawals to a fifth consecutive session. Cumulative outflows over the period were $206.0 million, and cumulative net inflows were tallied at $13.8 billion.

Altcoin ETF flows were mixed. Solana spot ETFs recorded net outflows of $9.3 million, and Zcash spot ETFs saw net outflows of $3.6 million. XRP spot ETFs were flat, with no net inflows or outflows. Last Friday, $3.3 million flowed out of XRP spot ETFs.

The latest moves are drawing attention as bitcoin’s price correction is again moving in tandem with ETF flows. Bitcoin spot ETFs drew funds over two sessions in early October, but flipped to net outflows as bitcoin slid below the $86,000 level. Ethereum spot ETFs are also extending a longer outflow streak than bitcoin spot ETFs, showing risk-off tendencies across major cryptocurrency ETFs.

Against this backdrop, the next focus for the market is whether bitcoin can narrow the gap with its all-time high a year ago, and whether ETF flows will turn back to net inflows. So far, neither bitcoin nor ethereum has shown clear signs of a rebound in either price or fund flows.