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Hey there, and happy Friday!

This week’s focus shifts to the tightening liquidity environment across global markets, a dynamic that’s quietly driving risk assets lower despite recent rate cuts. As Federal Reserve balance sheet runoff strains bank reserves and repo markets flash signs of stress, Bitcoin has faced one of its weakest Octobers on record.

Here’s what we’ll cover today:

  • 🌍 Market Recap & Macro Overview: Liquidity stress deepens as bank reserves hit cycle lows. Fed balance sheet, repo rates, and Treasury flows analyzed, why this could mark a key turning point for risk assets.

  • 📈 Bitcoin (BTC) Breakdown: Key levels at $109,300 and $111,900 in focus. ETF flows flip negative midweek, liquidation heatmap reveals clusters near $116,800, full bullish and bearish trading scenarios inside.

  • 📊 Ethereum (ETH) Outlook: Range tightening between $3,728–$4,000. ETF flow dynamics, key resistance at $4,111, and leveraged positioning updates, potential breakout setup forming.

  • 🚀 Solana (SOL) Analysis: Support at $179 and resistance at $187 back in play. Heatmap shows major leverage imbalance, all key levels, setups, and trading scenarios detailed.

Let’s dive in 👇

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