"Bitcoin is struggling to stage a meaningful recovery after last month's stumble, with signs of fatigue continuing to mount across crypto markets. The token briefly topped $107,000 on Monday before slipping back below $105,000, underscoring fragile sentiment after a broad selloff that erased billions in market value. The downturn was partly fueled by large holders taking profits near this year's highs and lingering unease following the early-October liquidations."
"Momentum has yet to return. Open interest in Bitcoin perpetual futures sits around $68 billion, well below the $94 billion peak seen last month, while funding rates-a measure of leveraged positioning- remain flat. Flows into exchange-traded funds also show little enthusiasm. U.S.-listed Bitcoin ETFs drew just $1 million in net inflows on Monday, even as stocks and credit rallied after Washington moved to end the government shutdown."
Bitcoin has failed to mount a sustained recovery, briefly reaching $107,000 before slipping back below $105,000 amid a selloff that erased billions in market value. Large holders selling near recent highs and early-October liquidations increased market unease. Open interest in perpetual futures is around $68 billion, down from a $94 billion peak, and funding rates remain flat. U.S.-listed Bitcoin ETFs recorded minimal net inflows of $1 million on Monday. Bitcoin remains below its 200-day moving average near $110,000, and has lost about $340 billion in value since Oct. 10, leaving market tone cautious.
Read at Fortune
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