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XRP Bitcoin rebounded after falling below the US$80,000 mark on Thursday, and the altcoin fell even deeper.
On the 4th (Thursday), Bitcoin (BTC) prices fell about 4%, hitting a one-month low, and rebounded after stabilizing just above US$80,000. At the same time, Ethereum (ETH), Ripple (XRP) and Solana (SOL) saw even larger declines.
Key Market Data
Bitcoin hit a low of around $80,300 after falling about 4% on Thursday, and then recovered to around $82,000 in the early hours of Friday. Ethereum and Ripple both fell about 6%, while Solana fell 9%. During this period, the market has exploded by more than $1.1 billion. [TAG
International oil prices topped $105 a barrel and Treasury yields hit a 24-year high, adding to market pressures two days before the anniversary of the "flash crash."
The sell-off intensified
The mild decline in early trading accelerated during the US session, causing Bitcoin to fall about 8% from its recent high near $87,000. Ethereum and Ripple have each fallen about 6% in the past 24 hours, with Ethereum falling to around $2,400, while Solana has fallen about 9%, making it the worst performer among the four currencies.
Selling pressure stopped around $80,300, and Bitcoin subsequently recovered to around $82,000 in the early hours of Friday.
CoinGlass data shows that as of noon New York time, the amount of open positions in the past 24 hours was US$974 million. Among them, Ethereum accounted for US$311 million and Bitcoin accounted for US$223.8 million. The figure later climbed to more than $1.1 billion, with long positions (positions that bet on price increases) accounting for about $1.05 billion, meaning that traders who were bullish on the market outlook took the vast majority of the losses.
Analysts 'warnings fulfilled
The decline is in line with the path predicted by FxPro analysts on Tuesday. Bitcoin was still trading around $86,600 at the time. The company pointed out that a break below $83,000 would confirm seller dominance and could quickly push Bitcoin to the $80,000 level. Before the U.S. market opened on Thursday, this support level really fell.
Macroeconomic factors put pressure on
Crude oil prices partially promoted the decline, but also provided some easing momentum. Brent crude oil futures climbed above $105 a barrel due to the uncertain situation in Iran, but fell back after President Donald Trump said the United States would not attack Iran before the November 3 midterm elections.
Borrowing costs are another major drag. Yields on 10-year U.S. Treasury bonds have risen above 5.3% this week, part of a row of yields climbing to their highest levels in 24 years. Minutes of the meeting released Wednesday showed that most Fed officials believed another rate hike before the end of the year might be appropriate. This stance makes interest-bearing investments more attractive than speculative assets.
Institutional Long-term Perspective
机构投资者保持着更长远的眼光。周二发布的道富集团（State Street）调查显示，约51%的受访者预计数字资产将在五年内进入主流视野，这一比例远高于2024年的11%。这项针对300名资产管理人、资产所有者和财富管理者的相同民意调查还发现，机构目前平均将投资组合的11%配置于数字资产，并预期这一比例将继续上升。
纪念“闪崩”一周年
此次抛售发生在2025年10月10日“闪崩”事件的一周年前夕。当时，比特币从约122,000美元暴跌至105,000美元。由于当时正值周五晚间美国交易清淡时段，大部分跌幅在几分钟内完成。该币种仅在几天前曾创下超过126,000美元的纪录，目前仍比该峰值低约35%。
