The selloff was driven by higher US inflation and rising rate-hike expectations, which triggered a risk-off mood across markets. The Nasdaq 100 fell up to 2%, and the US dollar reached its highest level since May 2025, while Asian equities like the Kospi and Nikkei 225 dropped 7.6% and 4.8% respectively. Ether also retreated, falling 6% to $2,358, as some analysts pointed to the upcoming IBIT options expiry on Friday as a pinning factor for prices.
Tuesday, October 20, 2026
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Bitcoin Drops Under $80,000 and Wipes Out $900M in Longs
Crypto5 days ago
A wave of liquidations totaling $900 million hit crypto traders over 24 hours, culminating in Bitcoin's price falling under $80,000 on Oct. 15. The decline follows several days of volatility that saw the asset break below both $82,000 and $81,000 thresholds. Prediction markets currently place a 40% probability that the cryptocurrency will drop below $75,000 by the end of the month.
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