Bitcoin dips under $108,000 as whales move BTC to exchanges
Bitcoin slid 2.5% on Monday, dipping under $108,000 after major institutions and big holders started selling off.
Outflows from Bitcoin ETFs hit $388 million—the highest since August—and whales moved over $1.8 billion in BTC to exchanges, adding even more pressure.
Ethereum and XRP also see significant drops
It's not just Bitcoin feeling the heat—the whole crypto market shrank by 3.6%, with Ethereum and XRP dropping 5% and 4%.
A lot of this is profit-taking after a strong rally, plus Bitcoin broke below a key support level near $109,500.
Institutional investors are cautious amid economic uncertainties
Institutional investors are playing it safe right now thanks to economic uncertainty—think Federal Reserve hints at higher rates and a strong US dollar.
Big holders like MicroStrategy are still sitting on huge piles of Bitcoin too, which could shake things up down the road.
For now, Bitcoin is stuck between $108K and $111K as everyone waits for clearer signals on what comes next.