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Crypto markets slide as Bitcoin drops below $80,000 and long liquidations surge

Bitcoin fell below the $80,000 mark alongside sharp drops across major tokens, triggering hundreds of millions of dollars in leveraged long liquidations within an hour.

CoinGecko price chart showing Bitcoin dropping 2.5% in 24 hours to $79,404.00
Image: @coingecko

The cryptocurrency market faced intense selling pressure on October 24, 2026, as Bitcoin broke below the $80,000 threshold. According to CoinGecko, the decline came after Bitcoin had held above the $80,000 level for more than 30 days, while Coindesk reported the move marked its weakest price level in more than a month amid weekend trading pressure and U.S. Middle East evacuations.[1][7]

The sell-off extended rapidly across alternative digital assets. Watcher.Guru reported that Ethereum dropped below $2,350, Solana slid under $100, and XRP slipped below $1.30. Bull Theory also noted Ethereum breaking under $2,350 as Bitcoin tumbled, while DEGEN NEWS highlighted Solana's decline beneath the $100 milestone.[10][9][12]

The rapid downward price action triggered a wave of forced liquidations across derivative exchanges. Multiple market observers reported heavy losses, with estimates of liquidations within an hour ranging between $200 million and $270 million, predominantly hitting leveraged long positions. Coin Bureau reported that over $40 billion in market value vanished over 24 hours, with more than 213,000 traders liquidated and CoinGlass data reflecting an $11.84 million Bitcoin long as the day's largest single liquidation. Meanwhile, Kalshi Crypto indicated prediction markets priced a 25% chance of Bitcoin slipping under $75,000 before the end of the month.[2][3][5][6][8][10][11]

Key facts

  • Bitcoin dropped below $80,000 on October 24, 2026, reaching its weakest level in more than a month after holding above the mark for over 30 days.
  • Ethereum dropped below $2,350, Solana fell under $100, and XRP traded below $1.30 during the market-wide downturn.
  • More than $200 million in leveraged crypto long positions were liquidated in under an hour, with one-hour liquidation tallies estimated up to $270 million.
  • Over $40 billion was wiped from the crypto market's total value over 24 hours as more than 213,000 traders were liquidated, according to Coin Bureau.
  • The largest single liquidation over a 24-hour period was an $11.84 million Bitcoin long position, according to CoinGlass data cited by Coin Bureau.
  • Kalshi prediction markets priced a 25% probability that Bitcoin would drop below $75,000 during the month.

Sources 路 11 sources

  1. CO

    CoinGecko@coingeckoPost on X 路

    JUST IN: Bitcoin falls below $80,000 after holding above the level for more than 30 days. https://t.co/E5055oB7hn

    Open source
  2. CB

    Coin Bureau@coinbureauPost on X 路

    馃毃ALERT: Bitcoin dips below $80,000 for the first time since October 15. $219 MILLION in crypto longs wiped out in the past hour. The biggest single liquidation in the past 24 hours was an $11.84 MILLION $BTC long, per CoinGlass. https://t.co/wf8shIcOBa

    Open source
  3. TK

    The Kobeissi Letter@KobeissiLetterPost on X 路

    BREAKING: Bitcoin and ETH fall sharply as $200 million worth of levered positions are liquidated in under 60 minutes. Bitcoin is back below $80,000. https://t.co/KxHTG1S2tb

    Open source
  4. CR

    Crypto Rover@cryptoroverPost on X 路

    Another $40,000,000,000 WIPED from Crypto in the last 24 hours, as Bitcoin falls below $80,000. Too much winning, MR President. https://t.co/fwcqgFBxwB

    Open source
  5. WI

    Whale Insider@WhaleInsiderPost on X 路

    JUST IN: $261,000,000 in long positions liquidated from the crypto market in the past 60 minutes. https://t.co/DpvJK4mLPY

    Open source
  6. CB

    Coin Bureau@coinbureauPost on X 路

    馃毃ALERT: Over $40,000,000,000 was wiped off the crypto market鈥檚 value in the past 24 hours. More than 213,000 traders were liquidated in the same period. In a single hour alone, over $270 MILLION was liquidated, 94% of it from longs, per CoinGlass. https://t.co/tzgokuiJIC

    Open source
  7. CO

    CoindeskArticle 路

    Crypto under weekend pressure, bitcoin slides below $80,000 on U.S. Middle East evacuations Bitcoin has sunk to its weakest level in more than one month.

    Open source
  8. KC

    Kalshi Crypto@Kalshi_CryptoPost on X 路

    BREAKING: Bitcoin falls under $80,000 25% chance bitcoin:native drops below $75,000 this month https://t.co/Q4GkVm1D0o

    Open source
  9. BT

    Bull Theory@BullTheoryioPost on X 路

    BREAKING: Bitcoin crashes below $80,000, Ethereum falls below $2350. Over $200 million in longs liquidated in just 15 minutes. https://t.co/EdzaVu4HJH

    Open source
  10. WG

    Watcher.Guru@WatcherGuruPost on X 路

    JUST IN: Crypto is dumping $SOL falls under $100 $XRP falls under $1.30 $ETH falls under $2,350 Bitcoin $BTC falls under $80,000 Over $200,000,000 in leveraged crypto long positions have been liquidated in the past 60 minutes. https://t.co/UQg6zKW5UM

    Open source
  11. CB

    Crypto Banter@crypto_banterPost on X 路

    馃毃$246M LIQUIDATED IN THE PAST HOUR AS BITCOIN DROPS BELOW $80K! bitcoin:native just fell under $80,000, hitting around $79,720. In the past hour, total liquidations reached $246.93M, with longs accounting for $233.11M and shorts only $13.82M. Heavy long flush as the drop accelerates.

    Open source
  12. DN

    DEGEN NEWS@DegenerateNewsPost on X 路

    BREAKING: $SOL DROPS BELOW $100 https://t.co/GQC6XmZSjD

    Open source