Overview
- Bitcoin rebounded to roughly $109,000 after sliding to intraday lows near $106,400 as risk assets sold off following Powell’s signal that a December rate cut is not assured.
- U.S. spot Bitcoin ETFs flipped back to net redemptions with about $470.7 million in outflows on Oct. 29, led by withdrawals from Fidelity’s FBTC and ARK 21Shares’ ARKB.
- Crypto liquidations topped $1 billion in the latest wave, with the bulk from long positions as derivatives leverage unwound across major tokens.
- On-chain data shows long-term holders distributing roughly 104,000 BTC per month and exchange-bound transfers near $293 million daily, indicating profit-taking into weaker demand.
- Large transfers added to volatility signals, including SpaceX moving 281 BTC and Jump Crypto shifting 1.1 million SOL to Galaxy, while new U.S. Solana ETFs drew inflows yet SOL fell.