Overview
- Bitcoin trades around $109,000–$110,000 after a late‑October dip, posting only a modest rebound from weekly lows near $106,000.
- Spot crypto ETFs logged sizable weekly redemptions, with roughly $600 million out of bitcoin products and about $184 million from ether funds, reflecting risk reduction.
- On‑chain data show more than 200,000 BTC left exchanges in October, even as long‑term holders have distributed roughly 810,000 BTC since July, a supply overhang mostly absorbed by demand.
- The latest sell‑off was led by short‑term traders, with 10,009 BTC in exchange inflows coming from coins held less than 24 hours, while long‑term holders showed little panic.
- Analysts flag ~$113,000 as a near‑term hurdle and the ~$117,000 Point of Control as pivotal, with some warnings that failure to reclaim these levels could open deeper downside scenarios toward $88,000.