BlockBeats News, November 5th, QCP Capital posted on social media that due to the strengthening of the US dollar and renewed uncertainty over the Federal Reserve's policy outlook, the price of bitcoin has fallen, testing the key support level of $100,000. Previously, the continuous inflow of funds into US spot bitcoin ETFs, which had been a bullish factor, has reversed, with approximately $1.3 billions in redemptions recorded over four consecutive trading days, further increasing market pressure.
When the price hit its low, passive liquidations exceeded $1 billions, while market makers' short gamma positions amplified volatility. Now, the $100,000 mark has become the watershed for market trends—whether stabilized ETF fund flows can reverse sentiment will be the key going forward.