Meanwhile, Binance’s USDT reserves have increased from around $790 million to $1.76 billion, suggesting more funds could be available for buying.
Bitcoin’s Spot Demand Remains Weak
Despite large holder accumulation, demand in the spot market remains weak. As, the Coinbase Premium Index is around -0.1416%, suggesting weaker buying pressure from U.S. investors.
However, weekly exchange flows have also turned into a net inflow of 8,428 $BTC, which may indicate that more Bitcoin is moving onto exchanges and could face selling pressure.
Meanwhile, the Short-Term Holder Spent Output Profit Ratio (STH-SOPR) is near 0.9982, showing that short-term holders are still selling at small losses on average.
XWIN Finance said the market may be moving from a phase of fewer sellers toward a possible bottom, but a lasting rally will need stronger spot demand.
Bitcoin ETFs Record $526.7M in Inflows, BlackRock Leads
While spot demand remains weak, institutional interest has shown signs of strength. U.S. spot Bitcoin ETFs recorded $526.7 million in net inflows on October 19, their largest daily total since September 22, when inflows reached $714.75 million.
BlackRock’s IBIT attracted $665.2 million, offsetting outflows of $83.6 million from Fidelity’s FBTC and $54.9 million from Grayscale’s GBTC.
The inflows are encouraging, especially after Bitcoin ETFs saw $409.2 million in outflows last week. However, one strong day does not confirm a lasting reversal.
Bitcoin Price Outlook
Looking at the 1 hour daily Bitcoin price chart, $BTC has slipped below $81,500, leaving $79,500 as the next key support level. Repeated rejection near $83,500 has weakened the short-term price structure.
Bitcoin has now lost the $81,500 support level.
We’ve seen repeated attempts to push higher fail, and $BTC is now breaking down from the range it’s been trading in.
For me, the next level that matters is $79,500.
If we can’t reclaim $81,500, I think there’s a real risk we move… pic.twitter.com/SspvhOaTJE
— That Martini Guy ₿ (@MartiniGuyYT) October 20, 2026
Buyers need to push Bitcoin back above $81,500 to improve the outlook. If the price remains below that level, a retest of $79,500 becomes more likely.
For now, whale accumulation and ETF inflows offer signs of support, but stronger spot demand will be needed to confirm a sustained recovery.
