Overview
- Bitcoin fell more than 24% from its October record to a six-month low, briefly trading near $95,000 before stabilizing around the mid-$96,000s.
- Spot bitcoin ETFs logged roughly $870 million in net outflows on Thursday, the second-largest daily withdrawal since launch, according to Bloomberg data.
- More than $1.1 billion in leveraged crypto positions were liquidated over 24 hours, reflecting a volatility spike that swept across major tokens, per CoinGlass/Benzinga.
- Traders now assign roughly coin-flip odds to a December Fed rate cut after more cautious remarks from officials, while U.S. stocks slid with AI leaders like Nvidia and Tesla under pressure.
- On-chain and market gauges flagged stress, including extreme fear readings and an estimated 815,000 BTC sold by long-term holders in 30 days, with several analysts describing a bear or corrective regime.