Bitcoin declines toward 80000 dollars as ETF outflows increase

Bitcoin has declined toward the 80,000 dollar mark, with Coinpedia reporting a drop toward 80,400 dollars after failing to maintain a rally toward 85,000 dollars. The Crypto Times and CoinDesk both report that the asset dropped below 80,000 dollars during trading on 24 October 2026. The fall follows a combination of institutional sell-offs, leveraged market liquidations, and broader weakness across technology equities. [1][4][6]

The price contraction coincided with widespread liquidations across derivative exchanges. According to The Crypto Times, total market liquidations reached 820 million dollars, primarily impacting long positions. Coinpedia reported that U.S. spot Bitcoin exchange-traded funds registered consecutive daily net capital outflows as market sentiment deteriorated. [1][4]

According to UToday Crypto News, U.S. spot Bitcoin exchange-traded funds recorded 137.94 million dollars in net outflows on 23 October 2026. This brought the cumulative capital withdrawals over two consecutive trading sessions to 773.43 million dollars. [5]

Bitcoin is a digital asset that uses cryptography for management rather than relying on central monetary authorities, serving primarily as a store of value. The asset is currently testing major psychological support levels. Coinpedia reported that market participants are evaluating whether spot buyers can absorb the ongoing selling volume or if the asset will decline toward lower technical support boundaries. [1][10]