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Bitcoin dropped below $80,000 during Thursday’s Asian session, reversing a two-day rebound as weakness in technology shares spread to crypto. The Federal Reserve held rates at 3.75%–4% but signaled persistent inflation concerns, while crypto futures liquidations reached $356 million over 24 hours, according to market data cited by CoinDesk.
Bitcoin fell below $80,000 during Thursday’s Asian trading session, reversing a two-day rebound as a technology-led selloff and hawkish Federal Reserve signals weighed on risk appetite. The decline pulled other major cryptocurrencies lower and coincided with $356 million in crypto futures liquidations over 24 hours, according to market data cited by CoinDesk.
Bitcoin fell from above $81,700 to about $79,800, CoinDesk reported, as losses in global technology shares fed into crypto markets. The move followed the close of U.S. trading on Wednesday and extended into Asian markets. Ether, XRP and Solana also declined, according to the report. The available report does not provide closing prices for those assets or establish that the equity moves alone caused the cryptocurrency losses.
Technology shares weakened after Alphabet reported third-quarter revenue of $127.58 billion, below the $127.93 billion analysts had expected, and operating income of $40.58 billion, short of a $43.16 billion forecast. Earnings per share were $2.12, down from $2.87 a year earlier. Alphabet shares were down about 10% in premarket trading Thursday, according to CoinDesk. Google Cloud beat its revenue forecast, bringing in $30.71 billion against an expected $29.10 billion.
In Asia, Samsung shares fell more than 5% after its semiconductor division’s results came in slightly below elevated analyst expectations. The unit reported operating profit of 106.5 trillion won for the three months through September, compared with an average estimate of 108.5 trillion won. Samsung also forecast capital expenditure of 84.4 trillion won, or about $63 billion, for the year. South Korea’s Kospi fell more than 2%, while Nasdaq futures were down 1.4%, the report said.
The Fed kept its benchmark rate at 3.75%–4%. CoinDesk characterized the decision as a hawkish hold, noting that Chair Kevin Warsh said inflation had made progress but remained too high. In derivatives markets, $205 million of the reported $356 million in liquidations came from long positions, which are bets on rising prices. Bitcoin futures accounted for $94 million of liquidations and ether futures for $72 million.
How Tech Losses Reached Crypto
The move links crypto’s near-term price action to broader shifts in risk appetite. When investors pull back from technology shares and other growth-oriented assets, speculative markets such as crypto can also face selling pressure. The reported overlap in timing is clear, but it does not by itself prove that tech losses or the Fed decision directly caused Bitcoin’s fall.
The rate outlook matters because interest rates influence the relative appeal of assets that do not pay income. CoinDesk noted that a hawkish Fed stance could keep inflation-adjusted bond yields elevated, potentially limiting flows into riskier assets. That is a market interpretation, not a confirmed forecast of future crypto investment. The Fed’s rate decision does not guarantee a particular path for Bitcoin.
The liquidations also show how a price decline can affect traders beyond holders of the underlying coins. When leveraged positions are closed after prices move against them, forced selling can add to short-term market pressure. The $356 million figure covers futures positions liquidated over 24 hours; it is not a measure of losses across all crypto investors or of Bitcoin’s total market value.
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The Events Behind Thursday’s Drop
Bitcoin had recorded a two-day rebound before falling below $80,000, according to CoinDesk. The report places the start of the latest risk-off move after U.S. markets closed Wednesday, with weaker-than-expected Alphabet results followed by declines in Asian technology stocks. Samsung’s semiconductor results missed the cited analyst average by a narrow margin even as the division reported a large year-on-year rise in operating profit.
The equity weakness arrived alongside a Federal Reserve decision to leave rates unchanged. The source describes the hold as hawkish because officials continued to stress that inflation remains above the Fed’s 2% target. ING, as reported by CoinDesk, expected another rate increase in December; that is a forecaster’s outlook, not a decision announced by the central bank.
BlackRock fixed-income chief investment officer Rick Rieder advised caution about making a strong directional call on interest rates. He pointed to income available in high-quality bonds and supported a moderate duration posture. His comments offer one investor’s assessment of the rate environment, not a Fed signal or a specific prediction for digital-asset prices.
“Real yields remain attractive, and there’s considerable income available across high-quality fixed-income markets.”
— Rick Rieder, BlackRock’s chief investment officer of global fixed income and head of its global allocation investment team
Whether Selling Will Continue
The report records Bitcoin trading around $79,800 during the Asian session but does not establish where the price settled afterward or whether it remained below $80,000. The pace and duration of the crypto decline are still unclear, as are the next moves in technology shares and bond yields.
The source also does not provide a detailed Fed statement or a full account of policymakers’ rate projections. ING’s expectation of a December increase is an outside forecast, and the Fed has not, in the material provided, committed to that move. The relationship between the stock-market losses and crypto selling is a reported market pattern, not proof that one factor alone drove Bitcoin lower.
The liquidation total covers a 24-hour period, and the report does not specify the precise data provider or give a comparison with a prior period. It should be read as a measure of reported futures positions forcibly closed—not as a complete accounting of market losses or an indication of what traders will do next.
Markets Await Fresh Rate Signals
Investors will be watching whether technology shares stabilize and whether the weakness in Asian and U.S. equity futures continues to influence crypto trading. Further price action will also depend on incoming economic data and changes in expectations for the Fed’s next decisions. No December rate increase is confirmed by the source; ING’s expectation remains a forecast.
For crypto markets, the next indications to follow include Bitcoin’s ability to hold or regain the $80,000 level, movements in major tokens, and whether derivatives liquidations continue. These developments could clarify whether Thursday’s fall was a short-lived response to shifting risk sentiment or part of a longer decline. The supplied report does not identify a specific upcoming market event or provide a price target.
Crypto prices can move sharply, and leveraged trading can magnify losses. The reported market data describes current conditions and does not establish future performance.
Key Questions
Why did Bitcoin fall below $80,000?
CoinDesk reported that Bitcoin declined as technology shares weakened and risk aversion spread into crypto markets. The Federal Reserve’s hawkish hold, with rates unchanged at 3.75%–4% and inflation still above its target, added to the cautious market backdrop. The report does not establish a single cause.
How far did Bitcoin fall?
CoinDesk reported that Bitcoin dropped from above $81,700 to around $79,800 during Thursday’s Asian trading session. The material provided does not state its later closing price.
What was the Fed’s decision?
The Federal Reserve held its benchmark interest rate at 3.75%–4%. Chair Kevin Warsh said inflation progress was being made but that price pressures remained too high, according to CoinDesk.
What do the reported liquidations mean?
Crypto futures positions worth $356 million were liquidated over 24 hours, according to market data cited by CoinDesk. Long positions accounted for $205 million of that total. Liquidations are forced closures of futures positions and do not represent all investor losses.
Is another Fed rate increase confirmed?
No. ING was reported as expecting another increase in December, but that is a forecast, not a confirmed Fed decision. The supplied source says the central bank held rates at 3.75%–4%.
Source: coindesk.com
