Bitcoin Drops Below $106K: Major ETF Outflows Fuel Market Sell-Off

Bitcoin experienced a sharp decline below the $106,000 mark on October 16, 2025, triggering significant market sell-offs and prompting large outflows from exchange-traded funds (ETFs). Over $531 million was withdrawn from various Bitcoin ETFs managed by firms like BlackRock and Grayscale in a single day. This move led to over $1.2 billion in leveraged positions being liquidated, impacting Bitcoin prices and other cryptocurrencies significantly. 📈