Bitcoin Breaks $110K Floor as Tariff Shock, ETF Outflows Hit Markets

Key Takeaways

• BTC failed $110,000 and dropped to ~$106,409 as shorts accelerated the move; total crypto market cap fell ~4.9% to $3.6 trillion.
• Spot Bitcoin ETFs recorded $536 million of net outflows yesterday; Ethereum ETFs saw $56.88 million of outflows.
• Options flow shows heavy put demand and a material short-term risk repricing; roughly $690 million was liquidated in the past 24 hours.
• Onchain nuance: small-to-mid holders are accumulating while miners deposited ~51,000 BTC since October 9, indicating mixed supply dynamics.
• Macro shock: 100% tariff rhetoric and an ongoing U.S. shutdown pushed Fear & Greed index down to 22; gold topped a $30 trillion market cap as safe-haven demand surged.