Overview
- Bitcoin trades around $104,000–$107,000, down roughly 13–15% from its record high after dipping below $105,000 early Tuesday.
- More than $1.2 billion in leveraged positions were wiped out in 24 hours, with roughly 90% from longs, CoinGlass data show.
- Bitcoin-focused products saw about $946 million in outflows last week while Solana funds drew roughly $421 million, highlighting a sharp rotation in institutional exposure.
- Powell’s signal that a December rate cut is not assured weakened risk appetite as rate-cut odds fell and the dollar firmed, adding pressure to crypto prices.
- On-chain desks report legacy holders moving supply—about 405,000 BTC over the past month—while market sentiment slid to ‘extreme fear’ with the index near 21.