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Bitcoin Slides Below $110K as ETF Outflows Persist

Key Takeaways

  • Bitcoin fell to $107,700 (-2.7%) on Tuesday, after failing to hold $110,000, as the total crypto market cap fell to $3.64 trillion.
  • Spot ETFs continue net redemptions: Ethereum ETFs −$146 million (third day of outflows) and Bitcoin ETFs −$40.47 million (fourth day of outflows).
  • Long-term holder (LTH) sales remain elevated; DATs and ETFs have absorbed much supply but cannot do so indefinitely with continued LTH distribution capping near-term upside.
  • Macro: Trump signs critical minerals/rare-earths deal with Australia, a strategic policy tailwind for mining and hardware supply chains, but trade friction with China is still a downside risk.
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