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Key Takeaways
- Bitcoin is barely holding $110,000 support after falling to about $111,000, down 11.8% from last week’s all-time high.
- Short-dated options show heavy put buying. Bulk puts exceeded $1.15 billion and omprised 28% of trade flow while call interest remains concentrated at $115k–$130k.
- Whales trimmed exposure (10–10k BTC cohort sold 17,554 BTC), though that cohort has still added 318,610 BTC year-to-date; distribution is selective, not panic.
- Ethereum slipped under $4,000 and SOL and BNB both retreated; total crypto market cap fell to about $3.77 trillion and the Fear & Greed index sits at 32.
- Macro flashpoints: tariff threats and an ongoing U.S. government shutdown are amplifying headline sensitivity and forcing short-term de-risking.