Bitcoin plunged below $100,000 for the first time in five months, hitting an intraday low of $99,980 before rebounding to $101,600.
Total liquidations exceeded $1.3 billion, with longs accounting for $1.113 billion, marking one of the largest single-day deleveraging events since May 2021.
Spot Bitcoin ETFs saw $578 million in outflows, their fifth straight day of redemptions; Ethereum ETFs lost $219 million, while Solana ETFs extended their winning streak with $14.83 million in inflows.
Crypto market capitalization fell 2.5% to $3.39 trillion, erasing $289 billion in value within 24 hours.
Short-term holders (STHs) continue to capitulate, sending 30,300 BTC to exchanges at a loss, while the STH-SOPR hovers near 1, reflecting persistent stress.
Bitcoin futures open interest collapsed by over $10 billion, a washout comparable to May 2021 and the FTX 2022 unwind, a structural reset more than full capitulation.
An implant that read recovery phrases off the screen and sent them out over LTE has been linked to more than $86 million in suspected thefts, and a second tampered device has now surfaced in Singapore.
Headline and core CPI both came in a tenth above forecasts, and Bitcoin slipped below $82,000 as traders raised the odds of a second consecutive rate increase at the Fed's Oct. 27–28 meeting.
Tiger Research's Q3 data shows the rebound's capital went into tokens and ETFs, while the money that did reach crypto companies came increasingly from exchanges, lenders and public markets instead of the lead VCs that set terms in past cycles.
The trade settled a two-year note within minutes and pledged it as overnight collateral, a test of whether tokenization can shorten the gap between buying a bond and financing it.
