Bitcoin fell below $80,000 as crypto liquidations exceeded $1.1 billion, with rising oil prices and Treasury yields adding pressure to markets. Bitcoin slides toward $80K as crypto long liquidations top $1 billion.
Bitcoin broke below $81,000 to an intraday low near $80,500, wiping out billions from its market cap. Over $1.1 billion in total crypto positions were liquidated, led by ether with $333 million.
Bitcoin slid below $81,000 on Oct. 8, with an intraday low near $80,800, even as traders expect the Fed to hold in October. The September FOMC minutes, released Oct. 7, said most participants viewed another rate increase by year-end as probable and left decisions dependent on data.
The recent Bitcoin liquidation highlights the risks of high leverage in crypto trading, emphasizing the need for cautious risk management strategies. Bitcoin long liquidations hit largest level since early June.
Bitcoin traded at $80,830 on Binance at 1:18 p.m. ET Thursday, down 3.23% from 24 hours earlier.
The speaker named Merrill, Bank of America and Goldman as firms beginning to suggest Bitcoin allocations to clients.
Bitcoin falls toward $81K as Ethereum drops below $2,500 and Solana nears $110, with rising yields, oil prices and liquidations pressuring crypto.
The large expiry could trigger significant market volatility, influencing Bitcoin's price dynamics and traders' strategic adjustments. 35% of Deribit's Bitcoin options open interest is set to expire October 30.
Bitcoin is nearing a significant support level after selling pressure emerged near $86,500, keeping short-term direction in focus.
Bitcoin fell from $81,334 15 minutes earlier and was down 0.19% over the previous hour.
U.S. President Donald Trump has ruled out any potential strikes against Iran before the November 3 midterm elections, even as the war drags on. Bitcoin rebounded after his statement, while oil prices retreated on the back of the development, which signals de-escalation in the U.S.-Iran war.
The Bitcoin was linked to assets recovered from the 2016 Bitfinex hack and moved to two newly created, unlabeled wallets.