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Bitcoin dropped below $80,000 during Thursday’s Asian trading session, reversing a two-day rebound as technology shares weakened and the Federal Reserve held rates while signaling concern about inflation. Crypto futures saw $356 million in liquidations over 24 hours, including $205 million in long positions. The sources do not establish how long the selloff will last.
Bitcoin fell below $80,000 during Thursday’s Asian trading session, reversing a two-day rebound as weakness in technology stocks and a hawkish Federal Reserve hold weighed on risk assets, echoing traders’ de-risking ahead of the Fed meeting. The decline pushed the broader crypto market lower and accompanied $356 million in futures liquidations over 24 hours, according to market data cited by CoinDesk.
Bitcoin dropped from above $81,700 to around $79,800, CoinDesk reported, putting the largest cryptocurrency below the closely watched $80,000 level, as seen in live updates on Bitcoin below $80,000. The move followed a renewed decline in technology shares in Asia. Samsung shares fell more than 5% after the company’s semiconductor unit reported results that missed elevated analyst expectations.
Samsung said the chip division’s operating profit reached 106.5 trillion won for the three months through September, a 15-fold increase from the comparable period a year earlier, but below the average analyst estimate of 108.5 trillion won. The company also forecast capital spending of 84.4 trillion won this year, about $63 billion, up roughly 60%. South Korea’s Kospi fell more than 2%, while Nasdaq-linked futures declined 1.4%, according to the report.
The Federal Reserve kept its benchmark rate at 3.75%–4%, with the decision looming over markets as noted in coverage of Bitcoin near $80,000. CoinDesk described the decision as a hawkish hold, citing Chair Kevin Warsh’s warning that inflation remains too high despite progress. Over the 24 hours covered, $205 million of the $356 million in liquidations came from long positions, which are bets on rising prices. Bitcoin futures accounted for $94 million and ether futures for $72 million.
Tech Weakness Meets Rate Pressure
The decline shows how quickly a move in major technology shares can coincide with selling in crypto, which investors often treat as a risk-sensitive asset. The report links Bitcoin’s drop to a broader pullback across Asian equities and technology futures; that connection describes the market backdrop, not proof that one factor alone caused the price move.
The Fed’s stance also matters because interest rates influence the returns available on less risky assets. CoinDesk said persistent inflation and a hawkish tone could keep inflation-adjusted bond yields elevated, potentially limiting capital flows into speculative assets. That is a stated market risk, not a confirmed forecast of future Bitcoin prices or investment flows.
Liquidations added another measure of the pressure on traders. When futures positions are forcibly closed, they can accompany sharp price moves, particularly for traders using leverage. The reported figures show the scale and direction of liquidations during a 24-hour window; they do not establish that liquidations alone drove the decline.
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The Market Signals Behind the Drop
Bitcoin had been recovering for two days before the latest slide. The move below $80,000 interrupted that rebound, with the report placing the fall within an Asian-session decline in technology shares. Ether, XRP and Solana also moved lower, according to CoinDesk, indicating that weakness extended beyond Bitcoin.
Samsung’s results were mixed rather than uniformly negative: the chip unit’s operating profit surged year over year, and group-wide net income rose 39%, but the operating profit missed the average estimate cited in the report. Investors’ reaction followed the shortfall against expectations, alongside concern about the company’s planned spending.
The Fed’s unchanged rate was not a rate cut. The reported policy range remained at 3.75%–4%, while Warsh said inflation was still above the central bank’s 2% target. ING expected another rate increase in December, according to CoinDesk; that is an analyst expectation, not a decision announced by the Fed.
“Investors should avoid making a “heroic directional call” on rates.”
— Rick Rieder, BlackRock’s chief investment officer of global fixed income and head of the Global Allocation Investment Team
Duration and Drivers Remain Unclear
The report captures a market move during a specific Asian trading session; it does not establish whether Bitcoin remained below $80,000 afterward or how prices developed later. The duration of the decline, the size of any continuing outflows and the next direction of crypto markets are not confirmed.
It is also unclear how much of the move came from technology-market weakness, interest-rate expectations, leveraged trading or other factors. The source reports these developments alongside one another but does not quantify their separate effects. The Fed’s next rate decision is also unresolved: ING’s expectation of a December increase is an analyst forecast, not official guidance that a hike will occur.
Markets Await the Fed’s Next Move
Investors will be watching subsequent trading in Bitcoin and other tokens, alongside Asian equities and U.S. technology futures, to see whether the risk-off move persists. Changes in futures liquidations may also indicate whether leveraged positions continue to unwind, but the figures cited here cover only the preceding 24 hours.
The next major policy question is whether inflation data and Federal Reserve communications support expectations for another rate move. The source identifies a possible December increase as ING’s view; no later Fed decision is reported. Until further market data and official policy updates arrive, the price outlook remains uncertain. Crypto assets are volatile, and investors can lose some or all of their investment.
Key Questions
How far did Bitcoin fall?
CoinDesk reported that Bitcoin fell from above $81,700 to around $79,800 during Thursday’s Asian trading session, moving below $80,000. The report does not establish the price at a later time.
Why did Bitcoin fall below $80,000?
The report linked the decline to a pullback in technology shares after Samsung’s semiconductor results missed elevated expectations, as well as a Federal Reserve hold accompanied by concern that inflation remains too high. It does not quantify how much each factor contributed.
What did the Fed decide?
The Federal Reserve held its benchmark rate at 3.75%–4%. Chair Kevin Warsh said inflation had made progress but remained too high, according to the report. ING’s expectation of a December increase is an analyst forecast, not a confirmed Fed decision.
How many crypto futures positions were liquidated?
Market data cited by CoinDesk showed $356 million in crypto futures liquidations over 24 hours, including $205 million in long positions. Bitcoin futures accounted for $94 million and ether futures for $72 million.
Does the report show whether Bitcoin will recover?
No. It reports a price decline and related market conditions, but does not establish how long the move will last or predict Bitcoin’s next price direction. Crypto assets are volatile and carry a risk of loss.
Source: coindesk.com
