Overview
- Bitcoin slid to an intraday low around $93,029, its weakest level since April, as the broad crypto market extended losses.
- Derivatives washouts accelerated the drop, with about $565 million liquidated across crypto in 24 hours, including roughly $243 million in BTC futures.
- U.S. spot Bitcoin ETFs recorded sustained redemptions—over $2.3 billion in net outflows in two weeks and a third straight week of withdrawals.
- Macro expectations turned risk-off, with CME FedWatch showing sub-50% odds of a December rate cut and traders de-risking positions.
- Technical and flow signals deteriorated: BTC confirmed a daily death cross and the Fear & Greed Index fell to 9, while XRP stayed soft despite a new U.S. XRP ETF tallying $58 million in first-day volume and about $248 million in assets.