Overview
- Bitcoin briefly fell under $100,000 for the second time this week before stabilizing near that level, leaving it down roughly 9% over seven days from October’s record highs.
- Derivatives washouts intensified the slide, with more than $713 million in leveraged crypto positions liquidated in 24 hours, including nearly $295 million tied to Bitcoin.
- U.S. spot Bitcoin ETFs recorded about $239–$240 million of net inflows on Nov. 6 after six straight days of outflows, but recent weeks remain net negative and investor caution is elevated.
- On‑chain data show ongoing distribution by larger holders and a surge of short‑aged coin inflows to exchanges, including nearly $26 billion of ‘young’ BTC moving to Binance in October.
- Traders are watching support around $100,000–$101,000, the 200‑/365‑day averages near $102,000, a reclaim of $112,500 flagged by Glassnode, and a CME futures gap at $92,000–$93,000 as potential targets and triggers; macro bond‑market swings and liquidity signals remain key wild cards.