October wrapped up with Bitcoin holding at $77,276, while ETFs were already out the door with $643 million.
That wasn’t a wrap-up—it was more like someone hauling away the chairs while the party was still winding down.
Over the past 24 hours, $427 million in positions were liquidated across the crypto market. Longs accounted for 73%, and about 93,000 traders were wiped out. Binance alone made up half of all liquidations, including the biggest single hit: an $11.43 million BTC long.
On the same day, U.S. spot Bitcoin ETFs saw net outflows of $643 million on Friday. BlackRock led the way with $234 million out, followed by Fidelity with $201 million. The figures are from SoSoValue, and the liquidation numbers line up with CoinGlass’s data.
Ethereum was still holding up, rising 0.47% to $2,241. Solana fell 1.55% to $95.53, and BNB dropped 0.93% to $699. The big guy took a beating, and none of the little guys dared make a real move higher.
Looking further out makes it even more painful: the crypto market shed about $300 billion in October. It’s being called the worst October, with the market not having been this deep in the red since 2014. The aftershocks of Binance’s $6.3 billion security incident haven’t faded either.
In my view, this downturn isn’t one exchange’s fault. Leverage, ETF redemptions, and panic have twisted together like three ropes—whoever lets go first feels the pain first.
The key levels are clear, too: $76,338 was the 24-hour low. If it doesn’t hold, prices could slide toward $75,000. A move back above $78,638 would be needed to catch our breath.
Here’s what would invalidate my view: if ETFs continue to see net outflows on Monday, my call that “the sell-off isn’t over yet” still stands. A large net inflow in the other direction, and you can chalk this article up to a bad call.
Which side are you betting on: a break below $76,338, or a move back above $78,638?
$BTC $ETH
#比特币 #ETF fund flows
That wasn’t a wrap-up—it was more like someone hauling away the chairs while the party was still winding down.
Over the past 24 hours, $427 million in positions were liquidated across the crypto market. Longs accounted for 73%, and about 93,000 traders were wiped out. Binance alone made up half of all liquidations, including the biggest single hit: an $11.43 million BTC long.
On the same day, U.S. spot Bitcoin ETFs saw net outflows of $643 million on Friday. BlackRock led the way with $234 million out, followed by Fidelity with $201 million. The figures are from SoSoValue, and the liquidation numbers line up with CoinGlass’s data.
Ethereum was still holding up, rising 0.47% to $2,241. Solana fell 1.55% to $95.53, and BNB dropped 0.93% to $699. The big guy took a beating, and none of the little guys dared make a real move higher.
Looking further out makes it even more painful: the crypto market shed about $300 billion in October. It’s being called the worst October, with the market not having been this deep in the red since 2014. The aftershocks of Binance’s $6.3 billion security incident haven’t faded either.
In my view, this downturn isn’t one exchange’s fault. Leverage, ETF redemptions, and panic have twisted together like three ropes—whoever lets go first feels the pain first.
The key levels are clear, too: $76,338 was the 24-hour low. If it doesn’t hold, prices could slide toward $75,000. A move back above $78,638 would be needed to catch our breath.
Here’s what would invalidate my view: if ETFs continue to see net outflows on Monday, my call that “the sell-off isn’t over yet” still stands. A large net inflow in the other direction, and you can chalk this article up to a bad call.
Which side are you betting on: a break below $76,338, or a move back above $78,638?
$BTC $ETH
#比特币 #ETF fund flows
