Bitcoin’s rally stalled near $111,200 before falling under $108,000 as macro uncertainty and regulatory chatter drove mixed sentiment. Ether hovered near $3,900. Analysts identified $112,300 as a liquidation zone triggering leveraged unwinds. Futures data showed lower open interest and flat funding rates. Despite volatility, institutional ETF inflows remain steady, suggesting long-term conviction among large holders into late October 2025.