Overview
- Bitcoin is stabilizing around $109,000–$110,000 after a choppy month that broke a seven‑year October winning streak, with Fortune calling it the fourth‑worst October since 2013.
- The Federal Reserve cut rates by 25 basis points, and Chair Jerome Powell said a December cut is not a foregone conclusion, pressuring risk assets.
- Spot crypto ETFs posted notable withdrawals this week, with roughly $600 million out of Bitcoin products and about $184 million out of Ethereum funds, according to SoSoValue and Farside data.
- On‑chain metrics show more than 200,000 BTC left exchanges in October even as long‑term holders have distributed roughly 810,000 BTC since July, while the latest sell‑off was driven mainly by coins held less than 24 hours.
- Analysts highlight $112,000–$117,000 as key resistance with a Point of Control near $117,000, as support sits around $108,000–$105,000 to determine the next directional move.