CoinDesk
Bitcoin fell from above $81,700 to around $79,800 as a tech-led risk-off move spread from Asian equities into crypto. The Federal Reserve held rates at 3.75%–4% but retained a hawkish tone, and crypto futures recorded $356 million in liquidations over 24 hours, including $205 million in long positions.
Why it matters
The selloff links pressure on Bitcoin to a wider retreat from risk. Samsung shares fell more than 5% after its semiconductor division missed elevated investor expectations, despite reporting a 15-fold surge in operating profit to 106.5 trillion won. The result was below the average analyst estimate of 108.5 trillion won. South Korea’s Kospi dropped more than 2%, while Nasdaq futures fell 1.4%.
The Fed’s decision to hold rates did not ease that pressure. Chair Kevin Warsh said inflation had made progress but remained too high, above the central bank’s 2% target. BlackRock fixed-income chief Rick Rieder advised against a “heroic directional call” on rates and said real yields remain attractive. Elevated inflation-adjusted yields can limit the appeal of speculative assets such as Bitcoin and Ether.
Market impact
Long traders accounted for most of the $356 million in crypto futures liquidations. Bitcoin futures saw $94 million liquidated, while Ether futures recorded $72 million. The figures show how a broad risk-off move can intensify crypto losses when leveraged traders are positioned for prices to rise.
Investors are watching whether weakness in technology stocks and the Fed’s hawkish stance continue to weigh on risk appetite. ING expects another rate increase in December, following September’s hike, adding to the focus on the rate outlook.
Frequently asked questions
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How much were crypto futures liquidations as Bitcoin fell below $80,000?
Crypto futures recorded $356 million in liquidations over 24 hours. Long positions accounted for $205 million.
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What triggered the risk-off move that reached crypto markets?
Samsung shares fell more than 5% after its semiconductor division missed analyst expectations. South Korea’s Kospi and Nasdaq futures also declined.
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What rate decision did the Federal Reserve make?
The Fed held its benchmark rate in the 3.75%–4% range. Chair Kevin Warsh said inflation remains too high relative to the Fed’s 2% target.
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How were Bitcoin and Ether futures liquidations divided?
Bitcoin futures saw $94 million in liquidations, while Ether futures recorded $72 million.
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Why could the Fed’s hawkish tone weigh on crypto?
A hawkish rate outlook can keep real yields elevated. Attractive real yields may limit capital flows into riskier assets such as Bitcoin and Ether.
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