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Weakness in U.S. equities may weigh on Bitcoin demand; spot ETF single-day net inflows hit a 1-month high

According to BlockBeats,October 20, Bitcoin over the past 24 hours fell by approximately 1%, while Ethereum fell 1.4%. Weakness in Asian equities and rising oil prices have intensified market pressure.QCP Capital Analysts warned that if U.S. equities continue to decline and trigger broader deleveraging, risks could spill over into the crypto market, and Bitcoin's 80000 USD support level may be tested.

In terms of fund flows, U.S. spot Bitcoin ETF recorded approximately 526600000 USD in net inflows on Monday, reaching a 1-month high. Among them, BlackRock's IBIT recorded approximately 665200000 USD in single-day net inflows, the largest since 2025 October; related products under Fidelity and Grayscale saw outflows. By contrast, spot Ethereum ETF recorded net outflows of 103300000 USD, marking the fourth consecutive trading day of outflows, indicating that recent buying has been concentrated in Bitcoin rather than the broader crypto market.

The macro environment remains under pressure: the U.S. 10-year Treasury yield is approximately 5.13%, while Brent crude oil is nearing 110 USD per barrel, with rising energy prices intensifying inflation concerns. The Federal Reserve is expected to keep interest rates unchanged next week, but prediction markets have priced in the possibility of a 25-basis-point rate hike next month.QCP noted that if U.S. Treasury bonds continue to rise, real yields decline, and USD weakens, risk assets may receive support; conversely, if the U.S. equity sell-off continues, Bitcoin's 80000 USD threshold will become a key level to watch.

Original link https://m.theblockbeats.info/flash/372774