Overview
- Bitcoin fell roughly 4% to trade around $107,000–$108,000, extending a multi-day slide and undercutting gains from earlier in October.
- The Federal Reserve cut rates by 25 basis points, but Chair Jerome Powell said a December reduction is not guaranteed, driving a repricing of expectations.
- BTC broke below the 200-day simple moving average near $109,000 as the dollar strengthened, a technical breach that chart watchers say could invite further selling.
- Spot bitcoin ETFs recorded notable redemptions, with data showing roughly $470 million of single-day outflows led by Fidelity’s FBTC, ARK’s ARKB, and BlackRock’s IBIT.
- Derivatives data showed about $483 million in 24-hour bitcoin liquidations and lower open interest, while Glassnode warned that failure to reclaim the ~$113,000 cost-basis level could expose downside toward ~$88,000 amid long-term holder distribution.