Bitcoin Below $80,000 as Liquidations and Fed Risks Loom

Bitcoin fell below $80,000 on October 26, reaching an intraday low of roughly $79,279–$79,332 before trading near $79,950. The move keeps the $79,000–$80,000 area in focus and comes ahead of the Federal Reserve’s October 28 decision and September PCE inflation data due October 29. Leverage remains a source of volatility. Bitcoin futures saw about $32.2 million in liquidations over 24 hours, around 84% from long positions. A broader sell-off on October 24 triggered $436.4 million in crypto-market liquidations in four hours, with 92.6% from longs. Bitcoin open interest was about $53.79 billion, and a liquidation heatmap showed potential long liquidations near $79,310. U.S. spot Bitcoin ETFs recorded $773.5 million in outflows on October 22–23, but still had net inflows of $301.2 million across the five-session week. The mixed figures suggest demand has weakened on some days but remains positive for the week overall. Key levels are estimates, not guaranteed support or forecasts. Glassnode’s October 21 research put previous buying around $80,000–$81,500 and its True Market Mean near $77,600; Bitfinex had identified $79,821 as a possible liquidation trigger. A sustained break lower would be more concerning alongside heavier spot selling, further ETF outflows, thin order-book bids and forced long closures. Traders are also watching $75,000 and $70,000 as conditional downside scenarios. A sustained recovery above $80,000–$82,000, backed by spot buying and steadier ETF flows, would ease immediate downside concerns. Bitcoin traders should monitor daily closes, ETF flows, leverage and upcoming macro data rather than treat an intraday break as confirmation of a crash.