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Bitcoin Falls Below $82,000 as Tech Sell Off Triggers $455 Million in Liquidations

Bitcoin Falls Below $82,000 as Tech Sell-Off Triggers $455 Million in Liquidations

Bitcoin faces selling pressure as geopolitical tensions and market volatility weigh on investor sentiment.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 23 October 2026 12:10 IST

Bitcoin Falls Below $82,000 as Tech Sell-Off Triggers $455 Million in Liquidations

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Bitcoin and major altcoins retreat as investors reassess market risks

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Highlights

Nearly $455 million in leveraged positions were liquidated within 24 hour
Bitcoin ETFs attracted $525 million on October 21
Bitcoin computing power reached a seven-month high

Bitcoin traded at Rs. 77.5 lakh on Friday as renewed US-Iran geopolitical tensions and a sharp pullback in technology stocks weighed on cryptocurrency markets. Ethereum (ETH) traded at Rs. 2.27 lakh, while major altcoins also fell. Market participants said weakness across US equities had increased pressure on risk assets, with the Nasdaq and S&P 500 recording notable losses. However, institutional demand remained resilient, as US spot Bitcoin exchange-traded funds (ETFs) continued to attract substantial inflows despite the market correction. According to CoinGecko data, Bitcoin traded at $81,600 (roughly Rs. 77.4 lakh), while Ethereum was priced at $2,400 (roughly Rs. 2.27 lakh).

The world's largest cryptocurrency fell 2 percent in the last 24 hours, according to the Gadgets 360 price tracker. Analysts said Bitcoin was consolidating within the $81,000-$82,000 range (roughly Rs. 76.8 lakh-Rs. 77.8 lakh), with the Federal Reserve's October 28 meeting emerging as another factor for investors to monitor. Analysts identified $83,700 (roughly Rs. 79.4 lakh) as a key resistance level and $79,700 (roughly Rs. 75.6 lakh) as important support.

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Major Altcoins Face Selling Pressure on Friday

Binance Coin (BNB) was priced around $741 (roughly Rs. 70,300), while Solana (SOL) traded near $104 (roughly Rs. 9,800). XRP hovered around $1.32 (roughly Rs. 126), while Dogecoin (DOGE) traded near $0.079 (roughly Rs. 7.5).

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ETF Inflows Offer Support Despite Market-Wide Selling Pressure

Highlighting the impact of geopolitical developments and weakness in technology stocks, the CoinSwitch Markets Desk said, “US-Iran geopolitical tensions and a sharp pullback in technology stocks weighed on risk assets, sending Bitcoin below $82,000 (roughly Rs. 77.8 lakh) and briefly as low as $81,200 (roughly Rs. 77 lakh). Equities reflected the cautious tone, with the S&P 500 falling 1.3 percent and the Nasdaq dropping 2.3 percent [...] Sustained ETF inflows could still fuel upside, while geopolitical developments and interest-rate expectations continue to act as the main market drivers.”

Commenting on Bitcoin's correction, institutional demand and the risks associated with leveraged trading, Prateek Gupta, Head of Business at Mudrex, said, “Institutional appetite, however, remains resilient: US spot Bitcoin ETFs saw $524.8 million (roughly Rs. 4,980 crore) in inflows on Wednesday, bringing three-day inflows to roughly $1.07 billion (roughly Rs. 10,151 crore). Network fundamentals also remain firm, with Bitcoin's computing power reaching a seven-month high. Still, the correction wiped out nearly $455 million (roughly Rs. 4,317 crore) in leveraged positions within 24 hours. With the Fed expected to hold rates next week and December hike odds above 85 percent.”

Discussing Bitcoin's price decline, ETF flows and derivatives positioning, Nischal Shetty, Founder of WazirX, said, “ETF flows offered a contrasting signal. US spot Bitcoin ETFs attracted approximately $525 million (roughly Rs. 4,983 crore) on October 21, led by BlackRock's IBIT and Fidelity's FBTC. Three-session inflows reached $1.07-$1.08 billion (roughly Rs. 10,151 crore-Rs. 10,246 crore), lifting October's cumulative net inflows to around $460 million (roughly Rs. 4,364 crore). Ethereum ETFs added $14 million (roughly Rs. 133 crore), ending five consecutive sessions of outflows.”

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Overall, analysts said Bitcoin's support around $81,000 (roughly Rs. 76.8 lakh) remains important, while a sustained recovery above $83,700 (roughly Rs. 79.4 lakh) could improve near-term momentum. Investors are also watching whether ETF inflows persist and whether developments in equity markets and interest-rate expectations help stabilise sentiment.

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Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Crypto markets, Crypto Prices, BTC, Bitcoin, Ethereum

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More