Bitcoin(BTC) fell about 4% on Thursday to a one-month low just above $80,000 before rebounding, while Ether(ETH), XRP(XRP) and Solana(SOL) posted steeper losses. Key Points: Bitcoin lost abou
Bitcoin(BTC) fell about 4% on Thursday to a one-month low just above $80,000 before rebounding, while Ether(ETH), XRP(XRP) and Solana(SOL) posted steeper losses.
Key Points:
- Bitcoin lost about 4% on Thursday, bottomed near $80,300 and recovered to about $82,000 early Friday.
- Ether and XRP each fell about 6% and Solana dropped about 9%, while liquidations passed $1.1 billion.
- Oil above $105 a barrel and Treasury yields at 24-year highs added pressure two days before the flash crash anniversary.
A modest early decline accelerated through the U.S. session, leaving Bitcoin about 8% below a recent high near $87,000. Ether and XRP each lost about 6% over 24 hours, with Ether falling to around $2,400, while Solana dropped about 9% in the sharpest fall of the four. Selling stopped near $80,300, and Bitcoin recovered to about $82,000 early Friday.
CoinGlass data showed $974 million in liquidations over 24 hours as of midday in New York, with Ether accounting for $311 million and Bitcoin for $238 million. The tally later topped $1.1 billion, and long positions made up about $1.05 billion of it, meaning traders betting on higher prices took nearly all the losses.
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The drop followed a path that analysts at FxPro laid out on Tuesday, when Bitcoin was still trading near $86,600. A break below $83,000 would confirm sellers had taken control and could send Bitcoin to $80,000 fairly quickly, the firm said. That level gave way before U.S. markets opened Thursday.
Oil supplied part of the push, and part of the relief. Brent crude climbed above $105 a barrel as the Iran war clouded the energy outlook, then eased after President Donald Trump said the U.S. would not attack Iran before the Nov. 3 midterm elections.
Borrowing costs are the other weight. The 10-year Treasury yield has climbed above 5.3% this week, part of a rise that has taken yields to their highest levels in 24 years. Minutes released Wednesday showed most Federal Reserve officials considered another rate increase likely appropriate before year-end, a stance that makes interest-bearing investments more attractive than speculative assets.
Institutions have kept a longer view, with a State Street survey published Tuesday finding about 51% of respondents expect digital assets to go mainstream within five years, up from 11% in 2024. The same poll of 300 asset managers, asset owners and wealth managers found institutions hold an average of 11% of their portfolios in digital assets and expect that share to rise.
The selloff came two days before the first anniversary of the Oct. 10, 2025, flash crash, when Bitcoin tumbled from about $122,000 to $105,000. Much of that fall came within minutes in thin Friday evening U.S. trading. The coin had set a record above $126,000 only days earlier and still trades about 35% below that peak.
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