Bitcoin Falls Below $80,000 and Solana Breaks $100: Middle East Tensions, $725M Liquidations and the Fed Decision Ahead

Bitcoin fell below $80,000 on Saturday, October 24, 2026, in a broad crypto sell-off that also dragged Solana below $100, Ether under $2,350 and XRP under $1.30. The trigger was not a crypto story at all: the United States began evacuating personnel from embassies and military bases across the Middle East on reports that Iran was preparing attacks against Americans, oil spiked above $111 a barrel, and risk assets everywhere sold off at once. Within hours, roughly $725 million in leveraged crypto positions were liquidated, most of them longs that had been betting on a recovery.

By late Saturday, prices had clawed back part of the decline — Bitcoin recovered above $80,000 and Solana back above $100 — but Ether and XRP were still sitting below their broken levels. The session mattered for more than one day's candles: it showed how fragile the market has become after weeks of ETF outflows, how quickly leverage can turn a geopolitical headline into a cascade, and why the Federal Reserve's October 28 decision is now the single most important date on every crypto trader's calendar.

This article explains what actually happened on October 24, why Bitcoin broke $80,000, what the liquidation data tells us about positioning, which price levels matter next, and what investors should — and should not — do about it.

What Happened on October 24: Bitcoin Below $80,000, Solana Below $100

The sell-off built through the week and broke on Saturday. Bitcoin had already failed near $85,000 on Wednesday, its highest level in about two weeks, and sellers steadily pushed it lower through Friday. On Saturday morning, Bitcoin slipped to about $79,700, down roughly 2.2% over 24 hours, its weakest level in more than a month. According to CoinDesk's market coverage, the move came as the U.S. evacuated personnel across the Middle East on threat of Iranian attacks, citing a Friday memo from the director of national intelligence warning that Iranian plotting against U.S. citizens had reached advanced stages.

The rest of the market fell harder. Ether dropped through $2,350 to about $2,341, XRP extended its losses below $1.30 to about $1.29, and Solana broke $100 intraday before recovering. Total crypto market value fell to about $2.7 trillion. At a market capitalization of about $1.62 trillion, Bitcoin still commands roughly 60% of the entire crypto market, according to CoinMarketCap data cited in weekend coverage — which is exactly why a Bitcoin breakdown drags everything else with it. A detailed breakdown of the October 24 session shows Bitcoin, Ether and Solana all crossing their key thresholds the same day, with about $725.64 million in rolling 24-hour liquidations, mostly long positions.

The recovery was partial and telling. By Saturday evening UTC, Coinbase's dollar markets put Bitcoin back at about $80,429 and Solana at about $101.36, both back above their round-number thresholds. Ether and XRP, however, stayed below theirs. That split — Bitcoin and Solana reclaiming levels while Ether and XRP did not — is the kind of detail traders watch, because it hints at where dip buyers are actually willing to step in.

Why Bitcoin Fell: Middle East Tensions, Oil Above $111 and a Tech Sell-Off

Three forces hit the market at the same time, and none of them started in crypto.

First, geopolitics. The State Department said late Friday it was reducing staff at embassies in Jordan, Lebanon, Qatar and the United Arab Emirates, citing threats from Yemen's Houthis, while the Wall Street Journal reported a broader evacuation of personnel from embassies and military bases on intelligence about Iranian attack planning. President Trump added fuel by threatening a re-escalation of the war against Iran after the November midterms. When headlines like that land on a Saturday, crypto — the only market that trades around the clock — becomes the release valve for risk, and it sells first.

Second, oil. Brent crude rose above $116 a barrel on Friday, its highest since June 2022, and held above $111 through the weekend. Expensive oil feeds directly into inflation expectations, which feeds into interest-rate expectations, which is kryptonite for risk assets. Bitcoin has repeatedly sold off on oil spikes this month, and the pattern repeated on cue.

Third, equities. Tech stocks had just suffered their worst day since June as an AI sell-off pulled the Nasdaq down 2.6%. Bitcoin has traded almost in lockstep with tech stocks through this correction, and the weekend session was no exception. When the Nasdaq sneezes on a Friday, Bitcoin catches the cold on Saturday.

$725 Million in Liquidations: How Leverage Turned a Dip Into a Cascade

The headline price move was only part of the story. The real damage came from leverage. CoinGlass data showed about $725 million in rolling 24-hour liquidations by Saturday evening UTC, with long positions accounting for the large majority. More than $200 million of leveraged positions were liquidated in less than an hour during the sharpest part of the drop, according to The Kobeissi Letter.

Bitcoin alone saw more than $160 million in liquidations, Ethereum around $170 million, Solana about $48 million, XRP about $25 million and Dogecoin about $20 million. When leveraged longs get force-closed, exchanges sell their collateral into a falling market, which pushes prices lower, which triggers the next round of liquidations. That feedback loop is why a 2% headline drop in Bitcoin can feel like a 10% crash for anyone trading with leverage.

Context matters here. This is not the first liquidation cascade of the month — earlier sessions wiped out $431 million and $937 million in separate events — but the pattern is the same every time: leverage builds up during quiet recoveries, a macro headline breaks, and the unwind does the rest. For spot holders, these cascades are noise. For leveraged traders, they are the entire game, and the game has been brutal: the data consistently shows longs taking roughly two-thirds or more of the losses in these events. If you are new to how these markets work, our guide on what Bitcoin is and how it works is a good place to start before touching leverage at all.

ETF Flows Tell a Split Story: Bitcoin Outflows, Ethereum Inflows

Underneath the weekend drama, institutional flows were sending a more nuanced signal. U.S. spot Bitcoin ETFs recorded a net outflow of about $635.6 million on Thursday, October 22 — their largest since June — followed by another $137.9 million on Friday, according to Farside Investors data. BlackRock's IBIT accounted for $110.3 million of Friday's outflow and Fidelity's FBTC for $31.8 million.

But the selling was not uniform. Ethereum ETFs actually took in $4.35 million on October 23, while XRP and Solana ETF flows were flat at $0.00 — the first silent day for Solana ETFs in October. Cumulative figures still show the scale of institutional adoption: Bitcoin ETFs hold more than $104 billion in net assets, Ethereum ETFs about $14.6 billion, and Solana ETFs about $1.61 billion, according to SoSoValue ETF data.

The split between Bitcoin outflows and Ethereum inflows suggests institutional money is rotating rather than exiting crypto altogether. That is a meaningful distinction: outright capitulation would show red across every fund. Instead, some allocators appear to be trimming Bitcoin exposure into macro uncertainty while keeping or adding Ethereum — a rotation trade, not a fire exit.

Still, the trend is hard to ignore. Bitcoin ETF outflows have now erased most of a three-day inflow streak that topped $1 billion earlier in the month, and year-to-date cumulative inflows of more than $57 billion have not been enough to hold the price near its $126,080 record from October 6, 2025. Bitcoin now trades roughly 36% below that peak. For anyone weighing whether to add exposure here, our guide to buying the Bitcoin dip walks through how to think about entries without chasing headlines.

The Levels That Matter Now: $80,000, $78,000 and Solana's $100

Round numbers matter in crypto because traders place orders around them, and October 24 proved it twice over. Here is the map traders are watching into the new week.

For Bitcoin, $80,000 has become both a psychological floor and a magnet for short-term selling. Saturday's intraday support reference sat near $80,351 on Bitstamp, with a 24-hour low around $80,409, and the market briefly dipped below $80,000 before recovering. Live Bitcoin price tracking put BTC at about $80,493 shortly after the session, down 0.87% over 24 hours, with the price about 36.2% below the $126,080 record set on October 6, 2025. A sustained recovery through $80,800 would bring $81,200 into focus. Another failure near $80,350 puts the psychological $80,000 threshold directly in the firing line, and analysts are already flagging $78,000 as the next downside threat if $80,000 gives way. Technical readings are mixed rather than outright bearish: about ten of fifteen moving average readings favor the downside, while nine of eleven oscillators remain neutral, leaving Bitcoin caught between deteriorating price action and momentum indicators that have not yet confirmed a deeper retreat.

For Solana, $100 is the line in the sand. The break below it on Saturday was brief — Solana recovered to about $101.36 — but the fact that it broke at all after weeks of weakness matters. Solana now trades around $101, down roughly 47% over the past year, and holding $100 on a weekly close is the difference between a dip and a breakdown.

For Ether, $2,350 is the level to reclaim, and for XRP, $1.30. Both stayed below their levels into Saturday evening, which makes them the weakest of the majors into the new week. If Bitcoin stabilizes, these are the names that usually catch up first — and if it does not, they are the names that fall furthest.

Longer-term context helps here too. Bitcoin's bull-market support band between $72,000 and $80,000 has framed this entire correction, and our analysis of that support band explains why losing the bottom of it would change the market's structure rather than just its mood.

What Happens Next: The Fed Decision on October 28 Is the Real Catalyst

Every trader interviewed in weekend coverage pointed to the same date: October 28, when the Federal Reserve announces its next policy decision. U.S. third-quarter GDP and September PCE inflation data follow on October 29. Historically, Bitcoin has been volatile after FOMC decisions — seven of eight 2025 meetings were followed by price declines — so even a market-friendly outcome is no guarantee of a rally.

The setup is unusually tense. Oil above $111 complicates the inflation picture, the tech sell-off has tightened financial conditions, and the Fed must weigh all of it against a labor market and growth data set that has been mixed all month. Options desks report heavier put activity above current prices, suggesting some funds are hedging rather than chasing rebounds. The Fear and Greed Index sits in the mid-30s, squarely in fear territory, which historically has marked both good buying zones and the early stages of deeper declines — fear alone is not a signal.

What to watch in order: first, whether Bitcoin holds $80,000 on daily closes into the Fed meeting; second, whether ETF flows stabilize or accelerate their outflows; third, whether the Middle East headlines de-escalate or intensify over the weekend; and fourth, what the Fed actually says about the path of rates on October 28. Any one of these can override the others. Together, they will decide whether October 24 was a capitulation low or just another stop on the way down.

What This Means for Investors: Three Rules for a Fearful Market

First, separate the headline from the position. Geopolitical sell-offs in crypto are usually sharp and often reverse quickly when headlines cool — but "usually" is not "always," and buying every dip in a downtrend is how portfolios get cut in half. Decide your entry levels before the market opens, not during a liquidation cascade.

Second, respect leverage. The $725 million wiped out on October 24 was overwhelmingly leveraged longs. Spot holders who did nothing lost a few percent on paper. Leveraged traders lost everything. If you cannot explain how liquidation prices and maintenance margins work, you should not be trading with leverage — full stop.

Third, think in months, not minutes. Bitcoin is 36% below its October 2025 record, ETF adoption is real but not a price floor, and the macro calendar — Fed decisions, inflation prints, oil prices — will keep mattering more than any single crypto headline. Investors who bought methodically through past fear readings did better than those who tried to time each cascade. If you are building a long-term position, our beginner's guide to buying Bitcoin and our guide to the best crypto wallets for beginners cover the practical steps, including how to store coins safely off exchanges.

Bull, Base and Bear: Three Scenarios for the Week Ahead

Predictions are cheap; scenarios with triggers are useful. Here is how the week ahead breaks down, with the exact levels that confirm or kill each case.

Bull case: $80,000 holds and the Fed cooperates

Bitcoin closes daily candles back above $80,800, then reclaims $81,200, while ETF outflows slow to a trickle and Middle East headlines cool. In this case the October 24 dip becomes a bear trap, Solana holds $100, and Ether reclaims $2,350 — the classic setup for a relief rally into November. Trigger to believe it: two consecutive daily closes above $81,200 with ETF inflows turning positive.

Base case: choppy range into the Fed decision

Bitcoin trades sideways between $78,000 and $82,000 while traders wait for October 28, ETF flows stay mixed, and oil stays elevated but stable. This is the most likely path given the Fear and Greed Index sitting in the mid-30s and options desks hedging rather than chasing. Trigger to believe it: Bitcoin holding $80,000 on daily closes but failing at $82,000, with liquidations staying small.

Bear case: $80,000 fails and $78,000 comes into play

A hotter inflation print, an escalation in the Middle East, or a hawkish Fed surprise breaks $80,000 decisively, triggering a fresh liquidation wave and opening the path to $78,000 — the level analysts are already flagging as the next downside threat. In this case Solana loses $100 again and Ether and XRP, already below their levels, lead the downside. Trigger to believe it: a daily close below $79,500 with rising liquidations and accelerating ETF outflows.

Frequently Asked Questions

Why did Bitcoin fall below $80,000 on October 24?

A combination of Middle East tensions — the U.S. evacuating personnel on reports of Iranian attack planning — oil spiking above $111 a barrel, a tech stock sell-off, and ongoing Bitcoin ETF outflows. The initial dip then triggered about $725 million in leveraged liquidations, which amplified the move.

Is $80,000 an important level for Bitcoin?

Yes. It is a major psychological level and the bottom area of Bitcoin's bull-market support band. Holding it on daily closes keeps the broader uptrend structure intact; losing it decisively opens the door to $78,000 and lower, and would mark a deeper structural breakdown.

Why did Solana fall below $100?

Solana fell with the whole market as risk appetite collapsed, and leveraged selling pushed it through the round-number level intraday. It recovered above $100 by Saturday evening, but the break shows how thin support has become after a year in which Solana has fallen roughly 47%.

What do the ETF flows mean?

Bitcoin ETFs saw heavy outflows — $635.6 million on October 22 and $137.9 million on October 23 — while Ethereum ETFs saw small inflows and XRP and Solana flows were flat. The pattern looks more like institutional rotation than outright capitulation, but sustained outflows would be a warning sign.

Will the Fed's October 28 decision move crypto prices?

Almost certainly. Bitcoin has historically been volatile around FOMC decisions, and this meeting lands with oil above $111, tech stocks selling off and crypto already on edge. The decision, the statement language and the press conference will all matter — not just the rate itself.

Should I buy Bitcoin now that it is below $80,000?

That depends on your time horizon and risk tolerance, not on any single price level. Long-term buyers often accumulate methodically during fear readings rather than going all-in on one dip, and leveraged buying during liquidation cascades has repeatedly ended badly. Never invest money you cannot afford to lose, and consider dollar-cost averaging instead of timing a single entry.

Conclusion

October 24 was a reminder of what crypto really is in 2026: a 24/7 risk asset that absorbs every geopolitical shock, oil spike and equity sell-off the moment it happens, amplified by leverage that turns dips into cascades. Bitcoin below $80,000, Solana below $100, $725 million liquidated — and yet, by Saturday evening, Bitcoin and Solana had already reclaimed their levels while ETF data hinted at rotation rather than retreat.

Whether this was a capitulation low or a waystation to lower prices will be decided less by crypto itself than by the Middle East headlines, the oil price and the Federal Reserve's October 28 decision. Until then, the levels are clear, the risks are obvious, and the smartest move for most investors is the least exciting one: a plan made before the next headline, position sizes that survive the next cascade, and no leverage in a market that has just shown — again — how fast it can take leveraged money away.