Overview
- Bitcoin slid to roughly $106,000–$108,000 and fell below its ~$109,380 200-day average, while ETH, SOL and XRP dropped about 4%–7%.
- U.S. spot Bitcoin ETFs posted about $470.7 million in net outflows on Oct. 29, led by Fidelity’s FBTC and ARK 21Shares’ ARKB, according to SoSoValue.
- Forced liquidations over 24 hours exceeded $1 billion, including roughly $424 million in BTC and $317 million in ETH, Coinglass data show.
- The downturn followed a 25-basis-point Fed cut paired with guidance that a December reduction is not a foregone conclusion as the dollar strengthened.
- Glassnode warned that failing to reclaim the ~$113,000 short‑term holder cost basis could point toward ~$88,000, even as other on‑chain signals show limited panic and corporate wallets such as SpaceX moved BTC for custody-related reasons.