Bitcoin Slides Below $109,000 as Crypto Markets Face Broad Sell-Off

Bitcoin experienced a sharp downturn, briefly losing the $109,000 level amid a 'waterfall' market move, while macro uncertainty weighed on investor sentiment. Recent US jobs data lowered the probability of a Federal Reserve 25 basis point rate cut in October to 83.4%, contributing to risk-off activity. The broader crypto market faced significant liquidations and outflows across major tokens and funds.