Overview

• Roughly $1.1 billion in crypto liquidations hit on Thursday, with about $3 billion wiped in recent days as overextended long positions were flushed.
• Spot bitcoin ETFs saw $258.4 million in outflows Thursday and about $725 million since Monday, according to SoSoValue data.
• BTC briefly slipped below $109,000 and is testing the short‑term holder cost basis near $111,000, with traders watching support around $107,000 and $102,000.
• Ethereum dropped below $4,000 toward roughly $3,800 before a modest rebound, and BitMine’s sizable ETH stake was reported below its on‑chain cost basis.
• Fear & Greed fell to 28 as a large options expiry gravitated toward a $110,000 max‑pain level, and analysts split between expectations of a deeper correction and a Q4 recovery.