Overview

• Bitcoin traded near $109,000 after falling to a three‑week low, leaving it roughly 10% to 11% below its August all‑time high around $124,000.
• Total crypto liquidations topped about $1.1 billion this week following a Sept. 21 wave that erased more than $1.5 billion in leveraged longs, reinforcing the sell‑off.
• Spot bitcoin ETFs logged $258.4 million in outflows Thursday and about $725 million since Monday, with BlackRock’s IBIT the lone fund taking in cash, according to SoSoValue.
• On‑chain data show long‑term holders realizing profits at elevated levels—about 63.8k BTC since the FOMC meeting—while recent ETF netflows have flipped negative, signaling weaker structural demand.
• Analysts highlight compressed volatility and key supports around $107,000 to $98,000 (with $102,000 and $103,000 cited), warning a break or bounce could drive a ~$10k–$15k move as options positioning clears.