Bitcoin fell to about $79,146 on Oct. 24, then moved back above $80,000 by early afternoon. The report said forced liquidations accelerated the selloff after bitcoin fell below $80,000; Coinglass figures put cryptocurrency liquidations at more than $810 million over the previous day.
U.S. spot bitcoin ETFs had lost a reported $635.6 million earlier in the week, led by outflows from Blackrock’s IBIT and Fidelity’s FBTC. Peter Schiff predicted bitcoin would likely test $75,000 and warned that holders of U.S.-listed spot bitcoin ETFs generally could not sell their shares on stock exchanges until Monday, unlike people trading bitcoin directly.
