Bitcoin briefly fell to about $79,280 on October 24, then recovered above $80,000, according to a contemporaneous market post. It reported $404.15 million in leveraged long liquidations over four hours, which amplified the move (FuturesWire).

Bitcoin briefly fell to about $79,280 on October 24, then recovered above $80,000, according to a contemporaneous market post. It reported $404.15 million in leveraged long liquidations over four hours, which amplified the move (FuturesWire).

Reports tied the selling pressure to weak risk sentiment, ETF outflows and macro concerns. The Block’s post said spot Bitcoin ETFs shed $773 million over two days; other market commentary pointed to elevated oil prices and Fed uncertainty (The Block, CryptoDreams68).

Some posts blamed Middle East tensions, but the sources here do not confirm that as the trigger. They do not establish one definitive cause; the liquidations describe how the drop intensified, not what first set it off.