BTC Whipsaws Between $108K–$113K as ETF Flows Return

Key Takeaways

• Bitcoin briefly rallied from $108,000 to $113,500 on the 4-hour chart but gave it back with an intraday whipsaw, underscoring fragile liquidity.
• Spot ETF demand reappeared with BTC ETFs adding $477 million and ETH ETFs adding $142 million (Oct. 21), yet flows are meeting sustained LTH distribution.
• Long-term holder supply has declined by ~28,000 BTC since October 15; 30-day SMA of LTH outflows rose to ~22.5k BTC/day, as continued distribution remains a supply headwind.
• Expect range trading with elevated volatility; favor low leverage and staggered entries into support bands.