Overview

• Bitcoin traded near $108,000, roughly 12% below its mid‑August record above $124,000 and at its lowest level since early July.
• About $500 million to $540 million in leveraged positions were wiped out over 24 hours, with CoinGlass data showing most losses on longs.
• Large‑holder moves weighed on prices, including reports of a 24,000 BTC single‑day sale and evidence of funds rotating toward Ethereum.
• Spot bitcoin ETFs continued to log net inflows this week, while CryptoQuant reported Galaxy Digital reduced holdings by 1,167 BTC, signaling mixed institutional flows.
• Sticky PCE inflation data pressured risk assets as analysts monitored $105,000–$112,000 levels and a weekly RSI bearish divergence for momentum signals.