Overview
- Bitcoin recovered to roughly $109,000 after dropping to about $106,000, while Ethereum held near $3,800 as markets stabilized into November.
- U.S. spot ETFs saw heavy withdrawals on Oct. 30, with $488 million flowing out of Bitcoin products and $184 million from Ethereum funds following the Fed’s 25 bp cut and Powell’s cautious guidance.
- On‑chain data shows long‑term holders have distributed about 810,000 BTC since July, and the latest sell‑off was led by short‑term coins, including 10,009 BTC moved to Binance from wallets held less than 24 hours.
- Key levels now guide direction: Bitcoin faces resistance near $113,000 and a Point of Control around $117,000, with support clustered at $108,000–$105,000; Ethereum’s focal zones sit around $3,800 support and $4,000–$4,200 resistance.
- Institutional interest in ETH persisted during the dip, with Bitmine purchasing 44,036 ETH (about $166 million), even as sentiment stayed cautious after October’s disappointing performance.