Bitcoin Weakens Near $80,000 as Liquidations Rise
Bitcoin weakened from about $81,717 on 20 October to trade almost flat near $80,000 on 27 October, while Ethereum slipped to around $2,327. The latest technical signals remain soft: both tokens are near the lower Bollinger Band and have bearish MACD readings; Bitcoin’s RSI is 41.7 and Ethereum’s is 33.7. Earlier, Bitcoin was above its 50-day moving average but below its 20-day average, while Ethereum traded below both averages. SOL edged higher and XRP fell in the earlier session.
Crypto liquidations totalled about $174 million in the latest 24-hour period, with $106 million in long positions wiped out. That compares with roughly $175 million in liquidations in the earlier report, when short liquidations were larger than long liquidations. The shift in which side was hit highlights pressure on leveraged traders but does not by itself confirm a market direction. Bitcoin spot ETFs also recorded about $907 million in net outflows over two reported weeks, while the Fear & Greed Index fell from 59 to 55 and later to 48, moving from greed to neutral sentiment.
Traders are watching the 27–28 October FOMC meeting, with rates widely expected to remain unchanged and uncertainty persisting over future policy. Bitcoin and Ethereum showed little response to a rebound in US technology stocks. Near-term support levels cited in the latest report are about $79,945 for Bitcoin and $2,310 for Ethereum. ETF flows, Fed signals and whether these supports hold remain key catalysts for crypto prices.
Bearish
The combined signals lean bearish for Bitcoin and Ethereum, particularly in the short term. Both have weakened since the earlier report, and the latest RSI and MACD readings point to subdued momentum. ETF outflows add a demand headwind, while the latest round of liquidations was weighted towards longs, potentially adding forced selling if prices fall further. Bitcoin and Ethereum’s limited response to gains in technology stocks also suggests that broader equity strength has not yet translated into clear crypto buying interest.
The picture is not decisively bearish: the latest liquidation total is similar to the earlier figure, and liquidation data alone does not establish direction. The FOMC was expected to leave rates unchanged, which could limit an immediate macro shock, while the cited support levels near $79,945 for Bitcoin and $2,310 for Ethereum may attract buyers. In the longer term, sustained ETF outflows, continued weakness below key moving averages and a break of support would strengthen downside risks. Stabilising flows, support holding and improving momentum could instead ease pressure. Overall, the available evidence supports a bearish near-term view, but does not confirm a lasting downtrend.