Overview
- Bitcoin traded near $104,000–$107,000 after briefly slipping below $105,000, extending a multi‑day drawdown of roughly 15% from record highs.
- CoinGlass data showed $1.27–$1.37 billion in 24‑hour liquidations across crypto, with nearly 90% from long positions and more than 300,000 traders affected.
- U.S. spot Bitcoin ETFs posted a fourth straight day of redemptions with $186.5 million in net outflows on Nov. 3, lifting cumulative withdrawals to more than $1.3 billion since late October.
- Fed Chair Jerome Powell signaled a December rate cut is not assured following last week’s 25 bp cut, the dollar strengthened, and officials cautioned on inflation, pressuring risk assets.
- On‑chain data highlighted profit‑taking by long‑term holders with about 405,000 BTC moving in the past month, even as fund flows rotated with strong Solana and modest Ethereum inflows despite price weakness.