Bitcoin dipped below $80,000 on Saturday, October 24, 2026, extending a slide that began earlier in the week. The move came after two straight days of withdrawals from US spot bitcoin exchange-traded funds and a sharp drop in technology stocks that weighed on risk assets in general.
The biggest ETF outflow since June
On Thursday, October 22, US spot bitcoin ETFs recorded net outflows of about $635 million, the largest single-day withdrawal since late June. BlackRock’s IBIT accounted for roughly $254 million of that, Fidelity’s FBTC for about $217 million and the ARK 21Shares fund for around $109 million. The timing stood out because these funds had attracted strong inflows in the three sessions before, and Thursday’s withdrawal reversed a large part of that buying. A second, smaller day of outflows, close to $138 million, followed on Friday.
Bitcoin fell about 3.2% on Thursday, touching around $80,840, and traded near $81,500 on Friday. Market analysts note that this area is close to the estimated average purchase price of investors in US spot bitcoin ETFs, which makes it a level many traders watch closely.
Linked to the broader market mood
The crypto slide did not happen in isolation. On the same Thursday, the Nasdaq Composite fell 2.6% in its worst session since early June as investors questioned the returns on heavy artificial-intelligence spending, and US chip stocks dropped about 6.7%. Oil prices also climbed, with US crude settling above $103 a barrel on Friday amid renewed tension between the United States, Israel and Iran. Together these factors pushed investors away from riskier assets, and bitcoin, which often trades in step with tech stocks during sell-offs, was no exception.
Leverage amplifies the move
When bitcoin broke below $80,000 on Saturday, about $200 million of leveraged positions were forced closed in less than an hour, most of them bets on rising prices. Over 24 hours, liquidations across the crypto market exceeded $800 million, with long positions making up more than 80% of the total. Forced selling of this kind can push prices lower quickly, which is why moves through round numbers often look sharper than the news behind them.
What to watch
The next test for crypto markets is the Federal Reserve meeting on October 27 and 28. Rates are expected to stay at 3.75% to 4.00%, but any hint of further tightening could keep pressure on risk assets. ETF flows over the coming days will also show whether Thursday’s withdrawal was a one-off or the start of a longer pullback by institutional investors.
Cryptocurrencies are highly volatile and can lose a large share of their value in a short time, especially when leverage is involved. Only risk money you can afford to lose, and keep position sizes small.
Why it matters
Spot ETFs have become one of the main channels of demand for bitcoin, so a large outflow is read as institutional investors cutting risk. It came on the same day as a steep tech sell-off and rising oil prices, which hurt appetite for risky assets across markets.
Market reaction
Bitcoin dropped about 3.2% on Thursday and slipped below $80,000 on Saturday. The break triggered roughly $200 million of liquidations in under an hour, and more than $800 million across the crypto market over 24 hours, mostly long positions.
MIZANOVA view
The $80,000 to $81,500 zone is now a key reference for the market, as it sits near the estimated average entry price of ETF investors. The Fed meeting and the next few days of ETF flows will likely set the tone, and volatility may stay high while leverage is being flushed out.
