Author: Khyathi Dalal

Bitcoin has plunged around 10% to $82,000 over the past 24 hours, pushing liquidations to around $2 billion.

Spot ETFs saw heavy outflows on Thursday, with $903.1 million exiting Bitcoin funds and another $261.6 million flowing out of Ethereum products.

Bitcoin To Witness Sizeable Correction

Glassnode data shows Bitcoin’s realized losses have surged to levels last seen during the FTX collapse, driven largely by short-term holders capitulating.

This rapid spike suggests a widespread washout of weak hands as traders unwind recent positions.

Crypto chart analyst Ali Martinez highlighted that Bitcoin’s weekly SuperTrend, historically reliable in spotting major reversals, has flipped bearish again. For over a decade, every bearish flip has preceded a notable BTC correction.

Lennaert Snyder noted Ethereum has fallen to $2,650 and continues to trend downward. The next key resistance sits near $3,200, a rejection there favours fresh short setups, while a reclaim could open the door to $3,530.

ETH is also nearing the $2,580 daily support level, where reversal-long opportunities may emerge. Liquidity remains concentrated higher, keeping focus on longs at support and shorts near resistance.

Crypto trader Don pointed out Solana is now sitting on a major support level.

The meme-coin sector was hit even harder, plunging 10.9% and briefly touching a $44.4 billion valuation. Despite the new 21Shares Doge ETF debuting on Thursday, Dogecoin still declined — though trader Tardigrade noted a fresh bullish divergence forming on the daily chart, often an early sign a downtrend is weakening.

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Image: Shutterstock

Bitcoin is back above $109,00 ahead of Friday’s CPI release, despite net outflows from Spot ETFs.

Spot BTC ETFs saw a $101.3 million outflow, while Spot ETH ETFs recorded $18.8 million outflows. Total crypto liquidations hit $499.29 million, affecting 139,320 traders, and Bitcoin dominance jumped 1.4% to 59.1% in a single day.

Bitcoin Stuck, Key Levels Hold Importance

Daan Crypto Trades noted Bitcoin is rangebound between $107,000–$111,000, with thin trading volume causing sharp swings.

A break above $111,000 could open the door for further upside, while holding $107,000 support remains crucial.

Ted Pillows highlighted Ethereum bounced off key support but shows lingering weakness. Until it reclaims $4,100 with strong institutional inflows, most pumps are likely to be retraced.

For Solana, Daan explains it is consolidating around its Daily 200MA/EMA, forming lower highs and higher lows post-October 10 volatility.

Key levels are $170–$175 support and $195–$200 resistance; the next move will depend on which side breaks.

Broadly tracking the crypto market, the meme coin cap rose 0.1% to $61.97 billion in 24 hours. AI-themed meme coins led with 1.6% gains, while Solana-based meme coins dropped 1.8%.

While Dogecoin remains “crazy cheap” under $0.2 according to trader GalaxyBTC, Shiba Inu burn rates surged 2,690%, showing strong token deflation activity.

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Image: Shutterstock