🚨 Bitcoin Market Update 🚨

🔻 $BTC

BTC

72,924.31

-4.89%

BTC slid 2.6% in 24h to $109,635, weighed down by spot ETF outflows and heavy liquidations.

📉 Key Drivers:

Spot ETFs saw $258M outflows (Fidelity FBTC -$115M).

Weekend liquidations hit $1.7B, including $500M BTC longs.

Fed Chair Powell’s speech fueled macro uncertainty → Dollar +1.3%, S&P 500 at new highs.

BTC-S&P correlation now at 0.72.

📊 What’s Next?

Testing $105K support (200-day EMA at $104K).

Break below could extend downside.

Recovery above $112.8K SMA may trap shorts and spark a relief rally.