Overview:
Bitcoin retreats from USD 85,000 as tech stocks weaken, oil prices rise and geopolitical tensions pressure investor sentiment.
Spot Bitcoin ETF inflows provide support, while traders monitor USD 79,700 and USD 83,700 as key price levels.
Zcash leads major crypto losses as Ethereum, XRP and AI-linked tokens face selling pressure ahead of the Fed meeting.
Bitcoin trades near USD 81,600 on October 23 after a push toward USD 85,000 lost steam. Chip stocks and oil set the tone across risk assets as the Nasdaq fell 2.6% on Thursday.
Spot Bitcoin ETFs still drew over USD 1 billion across three sessions, which cushioned deeper dips. Traders now turn to the October 27 to 28 Fed meeting for the next directional cue.
Bitcoin Price Today
Bitcoin trades at USD 81,616.48, down 1.7% in the past 24 hours, according to CoinGecko. Its market capitalization stands near USD 1.64 trillion, while 24-hour volume reached USD 30.41 billion.
Mudrex: ETF Demand Offsets Liquidations
Prateek Gupta, Head of Business at Mudrex, said Bitcoin retreated near USD 81,500 after nearing USD 85,000. Spot ETFs drew USD 524.8 million on Wednesday, while leveraged liquidations reached about USD 455 million. USD 83,700 remains a key hurdle, and support has moved to USD 79,700.
CoinSwitch: Range Holds Before Fed
CoinSwitch Markets Desk said Bitcoin briefly touched USD 81,200 as US-Iran tensions and weak tech stocks hit sentiment. Sustained ETF inflows could support upward momentum, while geopolitics and rate expectations stay key drivers. Bitcoin may trade between USD 81,000 and USD 84,000 before the Fed meeting on October 28.
BitDelta India: Altcoins Lead the Retreat
Purvang Mashru, Lead Analyst at BitDelta India, said Bitcoin fell 3.4% to about USD 81,374. Ethereum lost 3.5%, while Cardano and Avalanche led the retreat with losses near 6% each. Support sits near USD 80,790, with resistance at USD 82,000 and USD 84,281.
WazirX: Volatility Gauge Jumps
Nischal Shetty, Founder of WazirX, said the VIX rose 14.09% to 19.03, signaling stronger demand for protection. Spot Bitcoin ETFs drew about USD 525 million on October 21, turning October flows positive. Bitcoin must reclaim USD 81,500 to signal recovery, while Ether must retake USD 2,400.
Also Read: Tesla Holds 11,509 Bitcoin as Meta Reports Mixed Q3 Earnings
Crypto Prices Today: Top 12 Coins at a Glance
Source: CoinGecko, prices as of today's session.
Biggest Gainers and Losers Today
None of the top 12 posted a clear gain today, with USDC flat at 0.0%. Zcash led the losers with a 6.1% drop, followed by Ethereum at 2.1% and XRP at 2.0%.
Crypto News Today: Top Headlines Impacting Prices
Bitcoin Slips as Chip Stocks Plunge and Oil Surges
Bitcoin fell about 4% toward USD 81,130 during Thursday's US session as the Nasdaq dropped 2.6% and chip stocks sold off. The Philadelphia Semiconductor Index lost 6.7%, while crypto futures liquidations reached roughly USD 474 million, per CoinGlass.
Brent crude climbed 3.7% to USD 112 per barrel as Middle East concerns grew, lifting inflation worries. The 10-year Treasury yield slipped below 5% as investors sought safer assets, leaving crypto buyers cautious ahead of the Fed.
Trump Says US is Not Negotiating with Iran
President Donald Trump said Washington is not negotiating with Iran, which sent US stocks lower on Thursday. Bitcoin slipped to USD 81,256 on Bitstamp near the Wall Street open. The decline followed a run toward USD 85,000 on Wednesday.
Price action now circles USD 81,500, the estimated cost basis of US spot Bitcoin ETFs. Bitfinex Alpha expects a range between USD 81,300 and USD 84,400 until the Fed meeting. A close below USD 81,300 would expose lower supports.
AI Tokens Slide as Tech Stocks Sell Off
AI-linked tokens fell harder than the broader market as tech weakness spread across assets. NEAR Protocol dropped 9%, Bittensor lost 8% and Render slid 7% over 24 hours. Investors questioned the financing needs behind large AI infrastructure projects.
Meta shares fell 7% despite stronger revenue, as the company plans new share issuance to fund expansion. Nvidia dipped 4.4% as investors weighed spending risks. The selloff suggests strong AI demand alone no longer reassures investors.
Zcash Drops After a Strong Weekly Run
Zcash fell sharply after gaining about 15% earlier this week. ZEC trades near USD 1,223.92, down 6.1% over 24 hours, according to CoinGecko. The retreat ended three straight days of recovery, after ZEC traded above USD 1,300 on Thursday.
ETF inflows topped USD 15 million on Wednesday, while futures open interest reached a 30-day high of USD 2.89 billion. The NU7 upgrade is still expected around November 5, while traders watch the USD 1,200 zone for support.
Hyperliquid Loses Ground in RWA Perpetuals
Hyperliquid's share of real-world asset perpetual trading fell from 80% in July to 26%, according to Artemis data. Centralized exchanges now control 64% of the market. Binance climbed from 3% to 30% within two weeks, while OKX reached 14%.
HYPE trades near USD 77.94, down 1.4%, after bouncing from the 100-day EMA near USD 76. Immediate support sits at USD 75.69, with resistance near USD 82.10. Hyperliquid still handled USD 208.07 billion in 30-day perpetual volume.
Also Read: The First Wave of AI Crypto Trading: Companies, Strategies and Lessons
Investor and Market Outlook
Bitcoin trades near USD 81,600, with USD 80,790 and USD 79,700 as key supports. A reclaim of USD 82,000 would open USD 83,700, while ETF flows and the Fed set direction. Investors should favor staggered entries, modest sizing and low leverage.
FAQs
1.What is the Bitcoin price today?
Bitcoin trades at USD 81,616.48, down 1.7% over the past 24 hours, per CoinGecko. Its market capitalization stands near USD 1.64 trillion, while 24-hour trading volume reached USD 30.41 billion.
2.Why did Bitcoin pull back from USD 85,000?
Bitcoin reversed after chip stocks plunged and the Nasdaq lost 2.6%. Brent crude rose toward USD 112, and Trump said the US is not negotiating with Iran, which hurt risk appetite.
3.Which coins moved the most today?
Among the top 12 coins, Zcash fell 6.1%, Ethereum lost 2.1% and XRP dropped 2.0%. Solana also slipped 1.5%, while stablecoins Tether and USDC held steady close to USD 1.
4.What should investors watch this week?
Track Bitcoin support near USD 80,790 and the October 27 to 28 Fed meeting, where markets expect a hold. Steady ETF inflows and a reclaim of USD 82,000 would strengthen any recovery attempt.