Overview
- Bitcoin fell to roughly $105,500 before stabilizing in the $105,000–$110,000 range, reversing much of October’s rebound.
- Derivatives markets saw more than $1.1 billion in positions wiped out over 24 hours, with the vast majority from long bets, CoinGlass data shows.
- U.S. spot Bitcoin ETFs logged sustained outflows in recent sessions, including withdrawals of $488 million and $191 million late last week, signaling a weaker institutional bid.
- Price action slipped below the 200‑day moving average near $110,000, with traders watching supports around $106,000 and $103,000 as some analysts flag potential downside toward the high‑$80,000s if those levels fail.
- Exchange and on‑chain readings are mixed, with rising Bitcoin reserves and a bearish turn in Binance’s cumulative volume delta contrasting with lower open interest, SOPR near 1.0, and record stablecoin supply suggesting latent buying power.