$BTC fell below $82,000 today — here is what happened
Bitcoin dropped about 3% overnight and is trading near $81,300–$81,800 this morning. The whole crypto market is down about 3.1% to $2.82 trillion (CoinGecko data recorded 6:30 AM PKT today), and Ethereum fell 2.6% to around $2,398. The Fear & Greed index crashed from 68 to 50 in a single day — from Greed straight to Neutral.
What happened? Three things hit at once. First, U.S. tech stocks sold off hard on Oct 22 — the Nasdaq fell 2.6%, its biggest drop since June — and Bitcoin followed risk markets down. Second, heavy outflows from spot Bitcoin ETFs added selling pressure (Cointelegraph reported this at ~10:15 AM PKT today). Third, fresh geopolitical tension in the Middle East, with reports of oil tankers attacked near the Gulf, made investors cautious everywhere. Liquidations hit about $455 million in 24 hours.
Levels to watch, per Glassnode's Oct 21 analysis: support sits at $80,000–$81,500, where spot ETF buyers' average cost (~$81,500) and strong bid orders are defending. If it holds, a bounce can build. If $80,000 breaks, $77,500–$78,000 is the next zone. Above, resistance is stacked: $85,000–$87,500, with the big wall at $87,700 — the cost basis where 2025 buyers are waiting to sell at breakeven.
Do you think $80,000 holds this week, or does Bitcoin test $78,000 first?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin
Bitcoin dropped about 3% overnight and is trading near $81,300–$81,800 this morning. The whole crypto market is down about 3.1% to $2.82 trillion (CoinGecko data recorded 6:30 AM PKT today), and Ethereum fell 2.6% to around $2,398. The Fear & Greed index crashed from 68 to 50 in a single day — from Greed straight to Neutral.
What happened? Three things hit at once. First, U.S. tech stocks sold off hard on Oct 22 — the Nasdaq fell 2.6%, its biggest drop since June — and Bitcoin followed risk markets down. Second, heavy outflows from spot Bitcoin ETFs added selling pressure (Cointelegraph reported this at ~10:15 AM PKT today). Third, fresh geopolitical tension in the Middle East, with reports of oil tankers attacked near the Gulf, made investors cautious everywhere. Liquidations hit about $455 million in 24 hours.
Levels to watch, per Glassnode's Oct 21 analysis: support sits at $80,000–$81,500, where spot ETF buyers' average cost (~$81,500) and strong bid orders are defending. If it holds, a bounce can build. If $80,000 breaks, $77,500–$78,000 is the next zone. Above, resistance is stacked: $85,000–$87,500, with the big wall at $87,700 — the cost basis where 2025 buyers are waiting to sell at breakeven.
Do you think $80,000 holds this week, or does Bitcoin test $78,000 first?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin