Crypto Briefing • October 8th 2026, 5:45 PM
Bitcoin slides toward $80K as crypto long liquidations top $1 billion
Key Summary
Bitcoin dropped 4% over the past 24 hours, nearing $80,000, as crypto long liquidations reached $1 billion. The decline coincided with steep losses across major tokens, with Ethereum, XRP, and Solana also falling. The selloff triggered by elevated oil prices and rising borrowing costs adds pressure to speculative assets, weakening crypto sentiment.
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Selloff Triggers $1 Billion in Liquidations
The decline in Bitcoin price came against a backdrop of elevated oil prices and rising borrowing costs. Brent crude reached around $106 a barrel Thursday after remaining above $100 since late September, as the ongoing Iran war continued to cloud the energy outlook.Impact on Major Tokens
Ethereum fell more than 6% to around $2,400, while XRP declined roughly 6% to $1.32. Solana dropped nearly 9% to around $106.Pressure on Speculative Assets
The selloff triggered more than $1.1 billion in liquidations over 24 hours, according to CoinGlass data. Long positions accounted for approximately $1.05 billion, indicating that traders betting on further gains absorbed most of the losses.Weakening Crypto Sentiment
Crypto sentiment also weakened. CoinMarketCap’s Fear and Greed Index fell to 53, placing it in neutral territory after remaining in greed territory since late August.Impact on Bitcoin
Bitcoin was down roughly 3% for October despite the month’s historically strong performance. CoinGlass data dating to 2013 show an average October gain of more than 18%, making it the second strongest month behind November, whose average return is roughly 41%.#Bitcoin#US#Crypto#SEC#Europe