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Bitcoin has fallen again, now trading around $105,550, down about 4.5% today. The drop comes after a few days of heavy outflows from U.S. spot Bitcoin ETFs and growing uncertainty around the Federal Reserve’s next move on interest rates. The price is now about 14% below its peak of around $126,000 earlier this month. Lately, the market has been under pressure from large withdrawals from major Bitcoin ETFs. On October 16, investors pulled out more than $536 million in one day. ARK Invest’s had the biggest outflow with $275 million, followed by Fidelity’s FBTC with $132 million, while Grayscale’s GBTC and BlackRock’s IBIT also saw smaller redemptions. It seems many investors are locking in profits after the earlier rally, especially now that the overall market tone has turned cautious. On the chart, Bitcoin clearly looks weak. The price is trading below all the main moving averages: MA(5) at $110,545, MA(10) at $113,609, and MA(20) at $116,494. The same goes for the exponential moving averages, EMA(5) at $109,535 and EMA(10) at $112,393. This shows that the short-term trend is still strongly bearish. Right now, the price is testing the lower Bollinger Band near $105,397, which usually means the market is oversold or close to it. Sometimes this area brings a small bounce, but if it breaks lower, we could see a deeper fall. In the last 24 hours, Bitcoin traded between $111,992 and $105,529, with about 18.7K BTC changing hands and a turnover of $2.04 billion. The indicators also show weakness. The RSI(6) is at 21.39, which is deep in the oversold zone, meaning the selling has been very strong. The RSI(12) and RSI(24) are 32.02 and 39.58, still pointing down. The MACD is heavily negative at –1,573.85, while the signal line is near zero. The large red bars show there’s still strong selling pressure. The OBV (On-Balance Volume) is at 40.23K, far below its average of 80.03K, showing that volume is mostly on the sell side. Even though volume is slightly lower today (around 5.45K), the big red bars from earlier this week show that a large amount of selling already happened. That tells me the market might be tired in the short term, but it hasn’t fully turned around yet. On the macro side, attention is on Jerome Powell and the Federal Reserve. Powell recently made it clear that the Fed is likely to cut rates by 0.25% at the end of October, but he also said that nothing is guaranteed. He’s keeping a cautious tone saying decisions will be made meeting by meeting, based on how inflation and jobs data move. Some officials think there could be another small cut in December if the labor market weakens more, but Powell doesn’t want markets to assume that for sure. The tricky part is that the U.S. government shutdown has delayed some important data, like job reports, making it harder for the Fed to read the economy clearly. Still, Powell said they have enough private data to make a fair decision. He also mentioned the possibility of slowing down the Fed’s quantitative tightening (QT), which could help ease pressure on liquidity. All this affects Bitcoin too. When rate cuts are slow or uncertain, investors tend to play safe, and risk assets like Bitcoin feel the impact. If the Fed moves more aggressively later say, a 0.5% cut in December or a quicker end to QT that could boost Bitcoin and other risk assets again. For now, though, the short-term trend for Bitcoin is still down. If it stays above $105K, there might be a small bounce, but if that support breaks, we could see it test $104K or even $100K next. If the market stabilizes and sentiment improves, the next recovery zone would likely be between $113K and $115K. In short, the market feels weak, both technically and emotionally. ETF outflows show fading confidence, and the Fed’s careful tone isn’t helping much either. A small rebound might happen soon since Bitcoin looks oversold, but the bigger picture still points to caution for now. $BTC

Like a knife through hot butter, #Bitcoin just lost the H1 2025 highs, falling back into a previous range. Now two major levels need to be reclaimed; Grey box at $107-110k, as well as the $117-118k level. Lots of work to do for bulls. Cockroach mode until then.

$KGEN btc teache who is father of crypto small kids 😂

The whale that previously opened a "$140 Million Short" position now has a combined long position in $ETH and $BTC totaling $163 Million, currently at a loss of $3.62 Million.