BTC Surges 2.44% Amid $1.3B ETF Redemptions and $2B Liquidations, Market Fear Intensifies

Bitcoin (BTCUSDT) has experienced notable volatility in the past 24 hours, with the price rising 2.44% to $103,419.99 from a 24-hour open of $100,960.00. This price movement follows significant market events, including approximately $1.3 billion in spot Bitcoin ETF redemptions since late October and a broader market sell-off attributed to delayed Federal Reserve rate cut expectations and increased demand for US Treasury bonds, which have tightened liquidity conditions. Additional selling pressure was driven by the liquidation of nearly $2 billion in leveraged crypto positions and heightened risk aversion among investors, as reflected by the shift to "extreme fear" in sentiment indices. Despite recent declines, Bitcoin maintains a market capitalization above $2 trillion, with a 24-hour trading volume reported at $79.52 billion and a circulating supply of approximately 19.94 million coins. The asset remains dominant in the cryptocurrency market, accounting for over 58% of total market capitalization.