Bitcoin below $80,000 as $800 million in longs are wiped out before Fed

Bitcoin below $80,000 on Sunday triggered more than $800 million in liquidations, mostly leveraged long positions. The price then hovered near $80,000 on Monday morning.

CoinGecko data cited by Crypto Times showed bitcoin at about $80,029 at 05:50 UTC. It was down about 1 percent on the day and 3 percent on the week. The 24-hour low was about $79,377. Bitcoin sits more than 36 percent below its October 2025 record.

Why bitcoin below $80,000 matters this week

The $80,000 level is a closely watched support. It broke briefly on Saturday and Sunday. Traders say a sustained move above $81,500 to $82,000 would ease the bearish outlook. Kalshi contracts price a touch of $78,000 before month-end.

Other coins also slipped. Ether traded near $2,320 and XRP near $1.29. The total crypto market value was about $2.74 trillion, down about 2.5 percent in 24 hours.

Fund flows are weak. US spot bitcoin ETFs saw about $635 million in outflows on 22 October. US spot ether ETFs lost about $220.7 million in the week of 19 to 23 October.

The Federal Reserve is the next test. The policy meeting ends on Wednesday, 28 October. The decision is due at 2:00 p.m. Eastern Time. Chair Kevin Warsh will hold a press conference at 2:30 p.m.

The Fed raised its target range by 25 basis points to 3.75 to 4.00 percent in September. September inflation ran at 3.7 percent a year. Growth and personal consumption data follow on Thursday, 29 October.

Analysts are split. Some say exchange data resembles the early stage of a new accumulation phase, though buying is weaker than before. Others point to falling stablecoin supply as a sign of caution.

Leverage is the common thread. When prices fall through a round number, forced selling can push them lower. That is how a 1 percent daily drop becomes an $800 million event. Our earlier report on ETF outflows described the same pressure last week.

The coming days will show whether $80,000 holds.

Crypto Times has the full price analysis.

Fact basis: Crypto Times (26 October 2026), citing CoinGecko and Farside Investors data. Prices are snapshots and differ by provider. This is not investment advice. Cryptocurrencies are volatile and you can lose money.