Bitcoin ETF · Bitcoin · Federal Reserve (FED) · Bitcoin.com News
Broader 24-hour liquidations show more than 200,000 traders wiped out, according to Coinglass.com stats
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Gold advocate and longtime bitcoin critic Peter Schiff wasted little time weighing in, stating:.
Key facts
- U.S. spot bitcoin ETFs lost $635.6 million earlier this week, led by approximately $254 million from Blackrock’s IBIT and $217.5 million from Fidelity’s FBTC
- Bitcoin’s price slipped to approximately $79,146 on Oct. 24, marking its second sharp test of the $80,000 threshold in roughly 10 days
- Bitcoin also slipped beneath its 50-day simple moving average near $81,700 to $81,800, breaking a technical support level that had held for approximately two months
- More than $810 million in cryptocurrency positions reportedly vanished within the last day, including approximately $689 million in bullish bets
Summary
Bitcoin’s price cracked below $80,000 on Saturday, touching its lowest price in more than a month as leveraged traders absorbed hundreds of millions in liquidations. Bitcoin’s price fell to approximately $79,146 Saturday as leveraged liquidations accelerated the selloff. Peter Schiff predicts bitcoin will test $75,000 and warns ETF investors face a difficult weekend. Blackrock and Fidelity led a reported $635.6 million exodus from U.S. spot bitcoin ETFs this week. Bitcoin’s price slipped to approximately $79,146 on Oct. 24, marking its second sharp test of the $80,000 threshold in roughly 10 days.