Bitcoin's price met resistance near $110,000. What happened?
Cryptocurrency price surges have led traders to lose over $800 million in leveraged positions. 
Bitcoin (BTC) failed to consolidate above $110,000. Over the past 24 hours, the price of the leading cryptocurrency fell from $111,000 to $106,000. By the morning of October 31, it had recovered slightly, but encountered resistance near the round mark.
BTC/USD
109,730 -1,420 (-1.28%) OKH Oct 31 11:20:38 1d 3d 1m 3m 1y 5l
As of 11:00 AM Moscow time, BTC is trading at around $109,400. It has fallen 1.7% in price in 24 hours and is down 13% from its all-time high of around $126,000 reached on October 6.
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The Ethereum (ETH) price has fallen to $3,680 over the past 24 hours. ETH has fallen 2.8% in 24 hours and is currently trading at around $3,820. From a high of around $5,000, the second-largest cryptocurrency has lost 22% in two months.
ETH/USD
3,837.7 -99.8 (-2.53%) OKH Oct 31 11:20:33 1d 3d 1m 3m 1g 5l
The total crypto market capitalization fell 2% in 24 hours, to $3.69 trillion. Only a few altcoins from the CoinMarketCap top 100 showed growth. Zcash (ZEC) gained the most, up 6.6%. Pump.fun (PUMP) saw the largest decline, down 15%.
According to Coinglass, liquidations on crypto exchanges in the past 24 hours affected more than 222,000 traders, totaling $878 million. The exchange liquidates leveraged trades when a trader's losses reach the amount of their collateral. Of this total, $766 million came from long positions betting on cryptocurrency prices. Bitcoin trades accounted for $302 million, while ETH trades accounted for $192 million.
On October 30, trading in US bitcoin spot exchange-traded funds (ETFs) resulted in a net outflow of $488 million, according to SoSoValue. In total, $607 million was withdrawn from bitcoin ETFs in less than a week. However, the net inflow since the beginning of October is $3.61 billion.
$184 million was withdrawn from Ethereum funds in the last 24 hours, with an inflow of $668 million since the beginning of the month. Two Solana ETFs, launched in the US this week, attracted $37 million in the previous day, and $154 million in the three days since their launch.
The crypto market's Fear and Greed Index is in the “fear” zone at 29 points out of 100. The indicator has been hovering below neutral levels since the market crash on the night of October 11, with the exception of a few days this week when it attempted to consolidate around 50 points. The current decline in the index suggests that investors have not recovered from the price collapse and are more inclined to sell cryptocurrencies than buy them.
Analysts surveyed by RBC-Crypto previously noted that Bitcoin could continue to decline in the first half of November. However, they estimate that a moderate rebound is possible towards the end of the month.
Source: cryptonews.net
