Bitcoin is trading around the $110,000 mark as large institutional outflows and whale sell-offs add pressure to the market. Spot Bitcoin ETFs recorded hundreds of millions of dollars in redemptions, while long-term holders moved 300,000+ BTC in the past month. The price is testing a major support zone and derivatives traders flag elevated liquidation risk ahead of options expiry. With broader macro uncertainty around U.S. rate policy, the crypto market appears in consolidation and may require fresh catalyst to resume a sustained leg higher.