Market Todayâ–Ľ Bearish
Why is crypto down today? Bitcoin slips below $80,000 (-2.25%) on ETF outflows and oil spike
TradingGain Newsroom··23 Oct 2026, 18:30 UTCBitcoin fell 2.25% in the last 24 hours to about $79,630, dropping below $80,000 for the first time in more than a month. Most of the market fell with it: only 50 of 294 tracked coins are up, and Ether, Solana and Dogecoin lost between 4% and 5%. The most likely reasons are weekend pressure linked to U.S. evacuations in the Middle East, heavy Bitcoin ETF outflows, and rising oil prices.
Updated 22:00 ISTRefreshes every 2 hours from live Binance futures data
Market breadth50 / 294coins up in 24h
Fear & Greed51Neutral · yesterday 50
BTC funding0.0001%per 8 hours
BTC open interest+0.43%24h · $7.59B
What moved the market
- Bitcoin slipped below $80,000 over the weekend as U.S. evacuations in the Middle East weighed on prices, a sign of pressure during geopolitical stress.
- US spot Bitcoin ETFs saw about $635 million in net outflows on October 22, the biggest daily outflow since June 25, as price neared the funds' cost basis.
- Brent crude rose above $116 per barrel, a six-month high, and U.S. stocks turned lower, adding pressure on risk assets like crypto.
- Bitcoin funding is slightly positive at 0.01% per 8 hours and open interest rose 0.43%, while Ether funding is negative at -0.0023% and sentiment is neutral at 51.
What to watch next
Traders may watch whether Bitcoin holds support near $80,403 and $79,645, as a break lower could extend the drop. Recovery signs would be a move back toward resistance at $81,976 and $82,793, along with steadier ETF flows.
Bitcoin levels to watch today
Resistance 2$82,793
Resistance 1$81,976
Pivot$81,219
Support 1$80,403
Support 2$79,645
Classic daily pivot levels for BTC, calculated from the last completed daily candle.
BTCLive chartOpen full chart →
Written by TradingGain from live Binance futures data, the Fear & Greed Index and today's top stories.Live update →