Bitcoin price rebounds to $77,600 amid ETF flow shifts

Bitcoin price reached a $77,600 rebound this week after dropping toward the $76,000 level. This recovery follows the $72,000 resistance rejection seen earlier this month. The current Bitcoin market depends heavily on ETF flow shifts and regional regulatory developments. In the first two trading days of 2026, US spot Bitcoin ETFs attracted $1.2 billion. The $4.6 billion rebound between August 19 and September 23 erased earlier 2026 outflows, leaving year-to-date net inflows at $320 million after the market experienced extreme volatility throughout the summer following the massive surges seen earlier. Total net inflows for 2025 were $21 billion, which was less than the $35 billion seen in 2024. This price shift also follows the widening of the Grayscale GBTC discount. Bitcoin previously reached prices above $90,000, which led to increased trading volume. The price of XRP fell nearly 2% to around $2.68 over the last week.

Institutional Flows and Market Pressure

Fidelity Wise Origin Bitcoin Fund, FBTC, recorded a $310.7 million inflow on September 18. This followed a period of volatility where US spot Bitcoin ETFs experienced a two-day outflow of over $746 million on September 15 and 16. FBTC also saw a net outflow of $125.58 million on September 30. One single-day net inflow reached $697 million, which was the highest in three months. WisdomTree Bitcoin Fund, BTCW, saw lower demand compared to other issuers. Morgan Stanley filed to offer Bitcoin and Solana ETFs to join established players like BlackRock. BlackRock’s iShares Bitcoin Trust, IBIT, captured a large share of the buying. Security risks persist alongside institutional buying. The Bloom protocol lost 9,408 SOL, worth approximately $947,000, from 49 wallet addresses on October 26. DotSwap V1 lost 8.5 BTC, and NGRAVE lost over $2.56 million. Coinbase also experienced a leak of 69,000 user information through outsourced personnel. Robinhood reported crypto trading revenue of $120 million, though its total revenue fell short of expectations. A whale shorted HOOD for $3.5781 million, increasing its position to 40,927.34 contracts as the price of HOOD perpetual contracts fell from $95.71 to $87.42. Binance will launch trading pairs for bStocks tokenized securities, including Applovin Corp (APPB) and GE Vernova Inc (GEVB), on October 28, 2026, at 20:00. A whale bought $42.3 million in assets from BitGo, including 14,600 ETH, 415,690 LINK, 16,570 AAVE, and 144,840 UNI. Total cumulative inflows for September reached between $2.4 billion and $2.8 billion.

Hashdex and the Brazilian Market

Brazil’s CVM registered the Hashdex Nasdaq XRP Fund, which enters a pre-operational phase. This makes it the world’s first spot XRP ETF. Hashdex also offers the BITH11 Bitcoin ETF and the ETHE11 Ethereum ETF. The Hashdex Nasdaq Crypto Index Fund, HASH11, debuted on the B3 exchange in 2021. HASH11 has become the second-most popular ETF in Brazil, surpassing BOVA11. The new XRP fund remains in negotiations for final listing approval on the B3 exchange. Hashdex also announced the DEFI11 ETF, which launches in February. This DeFi ETF tracks a basket including Ethereum, Uniswap, AMP, Curve, AAVE, Maker, Polygon, Chainlink, The Graph, Compound, Synthetix, and Yearn Finance. The DEFI11 index consists of 70% DeFi protocols, 15% smart contract network tokens, and 15% support and scalability solutions. The initial subscription price for DEFI11 is around 50 reals, or roughly $9. This offer uses coordination from XP Investimentos, Itau BBA, and Banco Genial. US regulators are currently reviewing several XRP ETF applications, with the SEC’s acknowledgment triggering a 240-day review period. The XRP market capitalization stands at $157.3 billion. Will US regulators follow Brazil’s lead regarding XRP products? You should monitor how these regional ETF approvals affect US liquidity.