In the wake of last week’s sell-off, strong earnings reports from major technology companies have catalyzed a market rebound. Meanwhile, U.S. spot Bitcoin Exchange-Traded Funds (ETFs) showed net inflows for the second consecutive trading day. Bitcoin is currently trading at $83,110, while Ethereum stands at $2,425. Gold is priced at $4,128 per ounce, pressured by ongoing concerns over energy prices and the Federal Reserve’s interest rate policy.
Bitcoin ETFs See Inflows While Ethereum Funds Decline
According to data from Farside and Trader T, U.S. spot Bitcoin ETFs recorded approximately $23.2 million in net inflows on October 20. BlackRock’s IBIT fund led this trend, receiving $29.9 million, followed by Fidelity’s FBTC fund, which saw an influx of $3.6 million. Conversely, Bitwise’s BITB fund experienced an outflow of $10.3 million, and other products showed no significant net movements.
Despite two days of inflows, the total for October remains negative. Since the beginning of the month, U.S. spot Bitcoin ETFs have faced net outflows of $65.1 million. Yet, since the start of 2026, cumulative net inflows stand at $865.3 million.
In contrast, Ethereum ETFs exhibited a net outflow of $26.1 million during the same session. BlackRock’s ETHA fund faced a $33 million outflow, while $3.6 million flowed into Fidelity’s FETH fund, and Grayscale’s Ethereum Mini Trust gained $3.3 million. Other Ethereum products showed no significant net fund movement.
Tech Earnings Boost Stocks; Oil Supply Concerns Mount
Impressive earnings from companies like SpaceX and Super Micro Computer have renewed confidence in artificial intelligence investments, following last week’s downturn. SpaceX surged 8.1% and Super Micro Computer jumped 16% in after-hours trading. Meanwhile, South Korea’s Kospi gained 2.6% and Taiwan’s Taiex rose 0.9%.
The MSCI Asia Pacific Index ended a two-day decline to rise 0.9%, while Nasdaq 100 futures increased by 0.7%. European markets are also expected to open positively, though discrepancies were observed among AI infrastructure companies. In South Korea, Etix rebounded 30% following a weak IPO debut, while Australia’s Nextdc dropped 40% after downwardly revising its outlook.
Oil markets are reacting to renewed supply concerns amid U.S.-Iran negotiations. Initially, reports suggesting a peace agreement pulled prices back from a five-month high. However, a diplomat later denied the claims, maintaining uncertainty. Subsequent attacks near the Strait of Hormuz threaten shipments, contributing to a rise in Brent crude back above $110 per barrel.
Gold faced a weekly decline exceeding 1%, trading at $4,128 per ounce. Since the outbreak of conflict between the U.S. and Iran in February, the price has dropped nearly 20%. Increasing energy costs amid the conflict have heightened inflation concerns and expectations for sustained high interest rates, diminishing gold’s appeal, which yields no interest.
Is Economic Slowdown on the Horizon?
Recent U.S. data suggest signs of economic deceleration, with housing starts in September hitting the lowest in four months, and pending home sales plunging to a record low. Previous drops in oil prices and weaker economic metrics aided long-term U.S. bond prices. However, in recent trading, bond prices slightly fell and the yield on the 10-year note rose by 1 basis point to 5.12%.
Markets are focused on next week’s Federal Reserve meeting. Recent remarks by Fed Chair Kevin Warsh did not alter expectations that interest rates would remain steady. Currently, a 25 basis point rate hike is priced at below a 16% probability, yet the possibility of another rate hike this year stands at approximately 85% due to inflation persisting above the Fed’s 2% target.
Other precious metals recorded losses as well. Spot silver decreased by 0.1% to $57.88, with platinum and palladium experiencing marginal declines. The dollar strengthened slightly against most G10 currencies after weakening the previous day.
Despite recent inflows into Bitcoin ETFs, overall figures for October remain negative, indicating that the fund flow recovery has not yet broadly impacted the monthly totals. While robust corporate earnings have led stock indices higher, rising oil prices continue to exert inflationary and interest rate pressures on gold.
