Bitcoin falls to $81,700 as AI selloff and oil surge hit risk assets
Bitcoin fell 2.59% to $81,670 after a failed run toward $85,000, as AI doubts, a Kospi slump and higher oil pushed markets risk off and altcoins slid.
Live chart · BTCUSD, ETHUSD, XRPUSD, SOLUSDT · TradingView
Bitcoin gave back its push above $84,000 and fell 2.59% over 24 hours to $81,670, according to CoinGecko data at 14:30 UTC. Global markets turned risk off as doubts about artificial intelligence spending returned, Asian stocks tumbled and oil jumped on renewed Middle East hostilities.
Bitcoin round-trips from near $85,000
Bitcoin traded between $84,808 and $81,331 in the past 24 hours. The high came close to the weekly peak noted in our last recap, before sellers took control. Despite the drop, Bitcoin is still up 1.51% over seven days. Trading volume reached $37.5 billion.
CoinDesk's live coverage described the move as a round trip to $85,000 that burned traders on both sides. Cointelegraph linked the reversal to Tesla reporting lower-than-expected capital expenditure in the third quarter. Chart: BTC/USD.
Ether and the majors
Ether fell 2.69% to $2,405.37, after a 24-hour range of $2,394.86 to $2,518.86. Every major in the table fell on the day. Cardano was the weakest, and it is the only one down over the week.
| Coin | Price (USD) | 24h % | 7d % |
|---|---|---|---|
| Bitcoin | 81,670 | -2.59 | +1.51 |
| Ether | 2,405.37 | -2.69 | +2.66 |
| BNB | 732.69 | -1.64 | +2.27 |
| XRP | 1.32 | -3.20 | +2.28 |
| Solana | 104.74 | -1.84 | +3.34 |
| Dogecoin | 0.07943 | -3.43 | +0.22 |
| Cardano | 0.215939 | -4.19 | -1.00 |
Breadth and sentiment
Total crypto market value fell 4.79% to $2.756 trillion, a steeper drop than Bitcoin's. Bitcoin dominance stands at 59.4% and Ether's at 10.6%. CoinDesk reports that the CoinDesk 80 index lost 3.5% and its DeFi index slid 6%.
The Crypto Fear & Greed Index from Alternative.me rose to 68 (Greed) from 63 the day before. It has climbed from 55 on October 20. Today's reading does not yet appear to reflect the latest sell-off.
What drove the market
- Global risk off. CoinDesk reports that technology shares led Asian losses as mixed US earnings unsettled investors, China entered a bear market and Brent crude climbed above $112 a barrel. According to CoinDesk, South Korea's Kospi tumbled 3.5% and oil gained nearly 3%. Our sister site covers the oil angle in the dollar's reaction to renewed Gulf risk.
- ETF flows. CoinDesk calculates that Bitcoin ETFs drew $1.08 billion in three days, but notes past steep rallies ran on about $235 million a day of net inflows. Separately, DWF Labs research cited by Cointelegraph finds ETF buyers follow price trends rather than set them.
- China's bitcoin claim. CoinDesk reports that Chinese prosecutors seek to confiscate more than 61,800 BTC tied to a $5.7 billion fraud scheme, coins seized in the UK.
- Supportive signals. CryptoQuant's Ki Young Ju called rising hashrate an "indirect bullish signal" as institution-backed miners return, Cointelegraph reports. Decrypt reports that SoFi launched a tokenized deposit paying 4.40% APY that converts to a stablecoin.
What to watch next
- Qian case. According to Decrypt, a Tianjin court will hear the confiscation application after a six-month notice period, while a parallel fight continues in London.
- Ethereum finality. CoinDesk reports on a draft that targets a fourfold cut in transaction finality time.
- Thailand ETFs. Thailand's SEC says several asset managers sought consultations on spot crypto ETFs but none has applied, per Cointelegraph.
- Starknet research. StarkWare plans a draft whitepaper in November on a quantum-resistant blockchain, Cointelegraph reports.
How we make this article: software gathers the market data and the news from the sources linked in the article, then cross-checks them. AI writes the text. People choose the sources, set the rules and run the process. Not investment advice.