Overview
- The token fell to roughly $94,500–$95,000, down about 24% from October’s all‑time high and set for a third straight weekly loss.
- US spot Bitcoin ETFs posted $869.9 million in net redemptions in a single day, the second‑largest on record, led by outflows at Grayscale, BlackRock and Fidelity funds.
- Derivatives markets saw more than $1 billion in liquidations as volatility spiked, while the Crypto Fear & Greed Index slid into “extreme fear.”
- Rate‑cut expectations for December dropped to below 50% after hawkish signals from Fed officials, and tech‑led stock declines underscored crypto’s tightening correlation with risk assets.
- On‑chain data show accelerated distribution by long‑term holders—about 815,000 BTC over 30 days—with Glassnode describing a cautious, mild‑bearish consolidation as analysts debate a bear regime versus a mid‑cycle correction.