DeFi Market
Crypto is down this weekend because a war scare hit a market that was already nervous. On Saturday, October 24, bitcoin slid below $80,000, its lowest level in more than a month, after the US pulled staff from Middle East posts over threats from Iran, CoinDesk reported. Traders who had borrowed to bet on higher prices were forced out, which pushed it lower, and US bitcoin funds had already lost $773 million on Thursday and Friday. Sunday morning, we found no fresh cause, so the reasons below are Saturday's.
Updated Sunday, October 25, 2026, 2:45 am MT. We check the news every morning and name a source for every number. We never say where the price goes next.
The reasons, one by one
1. A war scare on a weekend
CoinDesk tied Saturday's slide to US evacuations of staff from Middle East posts over threats from Iran. Bitcoin was down 2.2% over 24 hours at about $79,700 when it reported. Stock markets are shut on Saturdays and crypto isn't, so crypto is often where weekend fear shows up first.
Source: CoinDesk, Oct 24
2. Borrowed bets were forced shut
When a trader borrows to bet on a rise and the price falls far enough, the exchange closes the bet by selling. That selling pushes the price down, which closes more bets. The Block counted $436.44 million in positions liquidated in the four hours to 1 pm ET on Saturday, and $404.15 million of it was bets on higher prices. Other outlets give bigger totals over a full day; the number depends on the window. Our perpetual futures guide explains how these bets work.
Source: The Block, Oct 24
3. Money left the bitcoin funds
US spot bitcoin ETFs, the funds that hold real bitcoin for stock-market investors, lost $773 million across Thursday and Friday after three days of inflows, The Block reported. Thursday alone was $635.6 million, according to Crypto Times. These funds can't trade over the weekend, so their next move shows up on Monday.
Source: The Block, Oct 24, Crypto Times, Oct 23
4. Stocks and oil were already rattled
On Thursday the Nasdaq fell 2.6% as investors worried about a wider war with Iran and about how much big tech is spending on AI, and Brent crude climbed toward $113 a barrel, NBC News reported. Big investors often treat bitcoin like a riskier tech stock, so when they cut risk, they tend to sell both.
Source: NBC News
5. A Fed decision is three days away
The Federal Reserve meets October 27 and 28. In September it raised rates for the first time in about three years, to a range of 3.75% to 4.00%, InvestingLive reported. Higher rates make safe savings pay more, which tends to pull money away from riskier bets, and traders often step back before a decision.
Source: Federal Reserve calendar, InvestingLive
Key facts
| Bitcoin | Below $80,000 on Saturday, about $79,700 and down 2.2% over 24 hours when CoinDesk reported |
|---|---|
| Ether | Fell harder, about 4.4% over 24 hours to under $2,300 (CryptoTicker) |
| Fund flows | $773 million out of US spot bitcoin ETFs, Thursday and Friday (The Block) |
| Forced selling | $436 million liquidated in four hours Saturday, $404 million of it longs (The Block) |
| Next date | Federal Reserve decision, Wednesday, October 28, 2 pm ET |
What nobody can tell you
Whether it keeps falling. You'll see plenty of posts today with a price "target" or a "level to watch." Those are guesses, and some come from people who make money when you trade. A drop like this one has a cause you can read about. What happens next doesn't.
If you want to understand the moving parts rather than chase them, start with what moves the bitcoin price, funding rates and how to read market cycles.
⚠ Falling markets bring scams
When prices drop, scammers get busy. Watch for these in the next few days:
- "Recovery" offers. Someone says they can get back what you lost, for a fee up front. Nobody can reverse a blockchain payment for a fee.
- Bots that "profit in any market." A down market is their favorite sales pitch. Read are crypto arbitrage bots real? first.
- "Support" in your DMs. A message says your wallet is frozen or at risk because of the crash. Real support never messages you first. See wallet support scams.
Got a message you aren't sure about? Paste it into our free Scam Message Checker, run the Is This a Scam? check, or browse the Scams hub.
Earlier this week
- Sat, Oct 24. Bitcoin slid below $80,000 after US evacuations from Middle East posts (CoinDesk). $404 million in long bets were force-closed in four hours (The Block).
- Fri, Oct 23. Bitcoin eased 0.7% to about $81,668 as Thursday's $635.6 million ETF outflow sank in (Crypto Times). Oil kept climbing.
- Thu, Oct 22. A tech sell-off on Iran war and AI-spending fears sent the Nasdaq down 2.6%, with Brent crude near $113 (NBC News).
Why is crypto down today? FAQ
Why does crypto fall when stocks fall?
Big investors often treat bitcoin like a riskier tech stock. When they want less risk, because of a war scare, higher interest rates or a bad day for tech, they tend to sell both. The link isn't fixed, and some weeks the two move apart.
Why is crypto down when stocks are up?
Usually something inside crypto: a wave of forced selling on borrowed bets, money leaving the bitcoin funds, a big hack, or regulation news. Crypto also trades on weekends and at night, so it can react to news before stock markets open.
What does it mean when crypto positions are liquidated?
A trader borrowed to make a bigger bet, the price moved against them, and the exchange closed the bet by selling. Lots of these at once can turn a small drop into a fast one.
Should I sell or buy when crypto is down?
We don't give buy or sell advice, and nobody can tell you what the price does next. Whatever you decide, decide it yourself and never because a stranger, a group chat or a countdown timer is pushing you.
Will crypto go back up?
Nobody knows. It has recovered from drops before and it has also fallen much further first. Anyone who promises a date or a price is guessing, or selling something.
Is my crypto safe if the price drops?
A falling price doesn't touch your wallet. Your coins are still where they were. What takes them is a scam: a fake support agent, a recovery offer, a link that asks you to connect your wallet.
How often is this page updated?
Every morning, Mountain Time, and again on days with a big move. The Updated line at the top shows when we last checked.
