Bitcoin Holds Above $80K Even as Its Daily Loss Reaches 1%

According to CoinGecko, Bitcoin was changing hands at $80,494 as of 20:15 UTC on October 24, 2026, marking a 0.97% drop over the prior 24 hours. Despite this downward daily adjustment, the leading cryptocurrency managed to sustain its price above the $80,000 threshold.

This valuation arrived amid reports of an October market pullback, alongside downward pressure on equities and climbing oil prices—creating a difficult operating environment for risk-on assets.

Bitcoin Price Above $80,000: A Pullback That Still Left BTC Above the Round Number

Where was BTC trading on October 24?

CoinGecko recorded Bitcoin at $80,494 at 20:15:39 UTC, reflecting a 24-hour shift of -0.97287%, which rounds to a 0.97% loss. While negative for the day, it remained positioned above the psychological milestone.

The identical data snapshot pegged Bitcoin’s market capitalization at $1,618,185,122,770, with a reported 24-hour trading volume of $23,621,677,945. These metrics maintained its position as the top cryptocurrency by market cap.

What did the preceding market reports say?

In its October 23 reporting, CryptoPotato noted that Bitcoin had faced rejection just underneath the $85,000 mark and was trading near $82,000. Meanwhile, BeInCrypto indicated that BTC had retreated toward $81,400 during the Thursday sessions on October 22.

The October 23 market review also put Bitcoin’s market dominance over altcoins at greater than 58%. Ethereum hovered close to $2,400, reflecting a 2% weekly decline, whereas Monero traded around $613 with an 8% gain across seven days, demonstrating that not all major digital assets moved downward simultaneously.

Who Reported the Market Pressure Around Bitcoin?

What did the coverage say about stocks and oil?

BeInCrypto documented Brent crude reaching $117.42 per barrel on Friday, October 23, representing its peak value since April. The same publication noted that Thursday saw the Nasdaq drop by 2.6% and the S&P 500 lose 1.2%.

The coverage of the oil market pointed to fresh assaults by Iran-backed Houthi forces targeting Saudi Arabia as the immediate catalyst. Saudi Aramco evacuated its central offices as the conflict escalated, while an oil spill close to the United Arab Emirates exacerbated worries regarding maritime shipping safety.

How did the reports explain the broader weakness?

BeInCrypto attributed the technology sector selloff partially to anxieties surrounding artificial intelligence spending, while characterizing rising energy expenses as a potential driver of inflationary pressure. In their analysis, sustained inflation could compel the Federal Reserve to maintain restrictive monetary policies, putting downward pressure on speculative instruments.

Earlier Bitcoin Moves Above $80,000 Were Different Events

When did Bitcoin first cross the threshold?

A reference from Forbes indicates that November 10, 2024, marked the initial occasion Bitcoin climbed past $80,000. Consequently, the current price tier does not represent an unprecedented milestone.

### What happened during the May 2026 move?

A separate report published on May 4, 2026, and distributed via TradingView, detailed BTC hitting an intraday high of $80,529, marking its peak valuation since January 31. That prior upward movement was linked by the report to President Donald Trump’s unveiling of Project Freedom, an initiative addressing commercial vessels trapped near the Strait of Hormuz.

Trump detailed the operation via a Sunday post on Truth Social, describing it as a “humanitarian gesture” aimed at neutral nations impacted by the U.S.-Israeli conflict involving Iran. He stated that the U.S. would “guide their Ships safely” through closed maritime corridors. The initiative was set to launch on Monday, potentially engaging guided-missile destroyers, upwards of 100 aircraft, and 15,000 military personnel.

Tehran criticized the proposal as a potential breach of a ceasefire. Trump cautioned that any obstruction would “have to be dealt with forcefully.” Thus, the announcement combined a proposed safe passage for stranded commercial vessels with an ongoing threat of military confrontation, even as May market commentaries observed traders reacting to expectations of geopolitical relief.

The May coverage additionally referenced $303.88 million in cryptocurrency short liquidations alongside $153.87 million in inflows for U.S. spot Bitcoin exchange-traded funds over the preceding week. Those figures apply specifically to that historical event.

The breakdown of the May liquidations tallied $356.55 million across a 24-hour window, comprising $52.66 million in long positions. Bitcoin contributed $170.69 million to this total, with Ethereum adding $91.60 million. U.S. spot Bitcoin ETFs had simultaneously achieved their fifth consecutive week of net inflows, providing that earlier surge with a foundation of forced short covering combined with steady capital allocations.

A subsequent market recovery approached the exact same threshold from a lower base. Coverage from CoinsCapture in August placed BTC at roughly $78,796 on August 24, reflecting a 24-hour increase of 1.88% following a drop to $75,500 earlier in the week. That report also noted a push past $77,000 on August 21 alongside an aggregate crypto market capitalization nearing $2.68 trillion, marking yet another historical approach toward the $80,000 mark in 2026.

Why Bitcoin Above $80,000 Matters to Holders

Does the price level mean Bitcoin was rising?

No. The $80,494 price point sat above $80,000 while Bitcoin’s 24-hour performance remained negative, as a specific price level and a daily percentage return measure entirely different market dynamics.

How broad was the reported weakness?

CryptoPotato noted that the overall crypto market capitalization had contracted by more than $60 billion relative to the peak recorded the day before. Figures from BeInCrypto highlighted declines across major U.S. equity indexes on Thursday, though it characterized Friday’s market reaction as mixed, noting a slight rebound for the Nasdaq alongside a dip for the Dow.

Despite this, market analyst Dennis Liu—who publishes under the moniker VirtualBacon—expressed that he was more optimistic regarding altcoins than he had been in four years. His thesis centered on their valuation relative to Bitcoin, highlighting that the ratio of TOTAL2 (excluding stablecoins) to Bitcoin sat at 0.48, close to a baseline floor of 0.40, compared to roughly 0.45 to 0.46 during the bear market phase spanning from April to June.

Liu drew attention to the expansion of the Federal Reserve’s balance sheet starting in November 2025, following a contraction phase that lasted from October 2023 through October 2025. “That condition alone, I believe, will be the deciding factor to give us a stronger altcoin cycle in this cycle,” he remarked. His projection addressed a macro cycle rather than immediate daily price swings.

He allocated a 50% likelihood to altcoins trading sideways against Bitcoin, a 40% probability to relative gains, and a 10% chance of continued underperformance. Analyst Matthew Hyland echoed this relative-strength perspective, observing that the median altcoin was outperforming Bitcoin year-to-date in 2026 for the first time since 2021. Consequently, analyst evaluations ran parallel to a sluggish trading week, with Liu assigning the highest probability to a stagnant relative ratio.

Bitcoin, Oil and Liquidations: What the Figures Show

What did the liquidation estimate cover?

BeInCrypto stated that digital asset liquidations neared $441 million throughout Thursday’s market selloff. That figure encompassed the broader cryptocurrency ecosystem rather than Bitcoin exclusively, and pertained to an earlier trading timeframe.

What does the oil price add to the picture?

The cited Brent crude valuation of $117.42 per barrel supplies context regarding energy sector worries addressed within the reports. BeInCrypto framed elevated crude expenses as a prospective inflation hazard, though its analysis did not establish that petroleum price fluctuations alone dictated Bitcoin’s valuation.

Tokenized Fund Plans Add a Separate Bitcoin Investment Development

Parallel to the pricing analyses, CMCC Global unveiled initiatives to tokenize economic interests spanning two established digital asset investment vehicles: Crest and the Liberty Bitcoin Accumulation Fund (LBAF). An October 23 report from NewsBTC detailed these fund-of-funds architectures operating within El Salvador’s digital asset regulatory framework, leveraging Hadron by Tether for token creation and administration, alongside Bitfinex Securities for placement.

The proposed tokens are designed to represent economic stakes in the underlying fund portfolios, minted against corresponding fund shares and burned upon redemption. The designated subscription prices were set at $10 per Crest token and 0.0001 BTC per LBAF token—representing unit costs for managed investment interests rather than metrics of retail investor performance or spot Bitcoin demand.

Institutional participant BTCS S.A. committed conditionally to supplying an anchor contribution defined as a three-digit quantity of Bitcoin. The enterprise omitted the exact figures from its disclosure, and the announcement did not verify that a definitive quantity of coins had been transferred. Therefore, the initiative serves as evidence of a projected capital commitment instead of a finalized acquisition linked to October valuations.

The structural design incorporates identity verification protocols, anti-money laundering compliance, and whitelisted destination wallets intended for qualified self-custody participants. Bitfinex Securities is slated to facilitate token creation, distribution, and secondary market execution under the relevant legal framework. Operational rollout and successful deployment remain pending milestones, with the report omitting any specific launch timeline. For LBAF participants, amassing additional BTC units would still leave their dollar-denominated portfolios vulnerable to a depreciation in Bitcoin’s spot price.

Risks: Geopolitical Scenarios Could Shift Market Sentiment

What did the report say about possible action against Iran?

BeInCrypto stated that the United States and Israel had reportedly formulated contingencies for prospective military strikes following the November 3 elections, while the White House maintained that no military operations would occur prior to the ballot. The publication emphasized that strategic military planning does not guarantee that strikes will materialize.

What could renewed escalation mean for markets?

BeInCrypto framed renewed hostilities—specifically targeting energy infrastructure—as a potential catalyst that could drive crude oil past $120 per barrel and exacerbate inflation-driven selloffs. Conversely, it noted that a de-escalation could soften petroleum prices and bolster a market recovery. These represent conditional scenarios rather than verified occurrences or price predictions for Bitcoin.

The reporting also referenced a historical benchmark: historical data compiled by MSCI demonstrated that U.S. equities registered an average gain of 12% across the six months following the previous 13 midterm elections. That historical trend pertains to equity markets over a half-year horizon, offering neither a forecasting model for Bitcoin returns nor an indication of how renewed disruptions to energy infrastructure might impact contemporary markets.

What can the current price tell holders?

The October 24 price quote and the October 23 market coverage reflect observations captured at distinct moments. Taken together, they demonstrate that Bitcoin sustained its position above $80,000 following a phase of reported weakness, though they neither map every intervening price swing nor isolate a singular catalyst for the daily pullback.

What to Watch After Bitcoin Holds Above $80,000

Why does November 3 matter?

BeInCrypto referenced November 3 as the U.S. election date within its commentary regarding potential post-election military actions. In that context, the date serves as a political benchmark rather than a scheduled timeline for military engagements.

Which price references frame the recent move?

The accessible reference points encompass the most recent quote of $80,494, the $80,000 psychological threshold, and prior reports indicating a rejection just below $85,000. These data points outline the recent trading range discussed in the coverage, without defining formal technical support, resistance levels, or price targets.

?FAQ

01When was the latest CoinGecko Bitcoin price recorded?

CoinGecko logged a price of $80,494 at 20:15:39 UTC on October 24, 2026, alongside a 24-hour price movement of -0.97287%.

02When did Bitcoin first rise above $80,000?

Forbes data points to November 10, 2024, as the initial instance of Bitcoin surpassing that valuation tier. The October 2026 pricing does not mark a maiden crossing.

03What intraday high did the May 2026 report cite?

The report distributed via TradingView noted an intraday peak of $80,529 on May 4, 2026, characterizing it as the highest level observed since January 31.

04Did the $441 million liquidation estimate cover Bitcoin alone?

No. BeInCrypto characterized the figure as an aggregate measure of total crypto liquidations during the Thursday selloff rather than an isolated metric for Bitcoin.

05How much did the Nasdaq and S&P 500 fall?

BeInCrypto reported that the Nasdaq dropped by 2.6% and the S&P 500 contracted by 1.2% on Thursday, while describing Friday’s overall market reaction as mixed.

06What Brent crude price did BeInCrypto report?

The publication referenced a valuation of $117.42 per barrel on October 23, 2026, noting it as the peak level recorded since April.