Bitcoin Slips 0.36% on Oct 24, 2026 as Iran Fears Spark Liquidations

Bitcoin slipped 0.36% to $80,810.57 over the UTC day of October 24, 2026, according to CoinGecko, after briefly falling below $80,000 when reports of US evacuations in the Middle East set off a wave of leveraged liquidations.

Data as of: CoinGecko hourly data for the UTC day of October 24, 2026 (00:00 to 24:00 UTC), with global and altcoin snapshots taken at 00:09 and 00:14 UTC on October 25. ETF flows run through October 22, the latest day published by TFTC.

Key takeaways

• Bitcoin fell $291.74 (−0.36%) to $80,810.57 between 00:00 UTC on October 24 and 00:00 UTC on October 25, CoinGecko hourly data show. Its lowest hourly price was $79,730.04 at 16:00 UTC.
• Ether fell harder, down $28.18 (−1.18%) to $2,356.57, with an hourly low of $2,304.39 at 16:00 UTC, according to CoinGecko.
• CoinDesk, citing The Wall Street Journal, linked the drop below $80,000 to reports that the US was evacuating personnel from embassies and military bases across the Middle East.
• Liquidations over 24 hours reached $837.12 million, 82.8% of them long positions, BeInCrypto reported at about 15:47 UTC, citing CoinGlass.
• The total crypto market was valued at $2.72 trillion at 00:09 UTC on October 25, with bitcoin dominance at 59.49%, according to CoinGecko.

Session recap

Saturday started quietly but turned sharply lower in the US morning. Bitcoin's hourly prices stayed between $80,516.54 and $80,907.54 through the Asian and European hours, then it dropped below $80,000 shortly after 15:00 UTC before recovering most of the loss by midnight. For the wider picture, see Asian and global markets today and our October 23 crypto brief, which covers the $635.5 million ETF outflow that set the tone for the weekend.

Bitcoin and ether changes are calculated from CoinGecko's hourly prices at 00:00 UTC on October 24 ($81,102.31 and $2,384.75). Altcoin changes use CoinGecko's 24-hour price change. The market-cap change is CoinGecko's own 24-hour aggregate; it looks large next to the moves in the biggest coins and also did so on October 23, so treat it with caution. Dominance is compared with CoinGecko's 59.51% reading at 00:06 UTC on October 24. Stablecoins Tether (USDT, $182.46 billion market cap) and USD Coin (USDC, $71.56 billion) held near $1. CoinGecko put bitcoin's 24-hour trading volume at $21.86 billion at 00:00 UTC on October 25.

Bitcoin's intraday low on individual exchanges was below CoinGecko's hourly figure: BeInCrypto quoted $79,464 at press time, down 2.48% over 24 hours, and called it the lowest level since September 18. The rebound into the close meant the daily loss ended much smaller than the intraday drop. Our report on why bitcoin fell below $80,000 has the minute-by-minute timeline.

What drove it

Middle East security reports

CoinDesk reported at 15:11 UTC that bitcoin had fallen to about $79,700 after The Wall Street Journal said the US was quickly evacuating personnel from embassies and military bases across the region, based on intelligence that Iran was preparing attacks on Americans. According to CoinDesk, Director of National Intelligence Jay Clayton wrote in a Friday memo that "Iran has substantially increased efforts to target U.S. personnel." Cointribune noted that the State Department had already ordered non-essential staff and their families to leave Saudi Arabia, citing Houthi attacks on airports and infrastructure. With stock and bond markets shut for the weekend, crypto was one of the few large markets open to react to the news.

Leverage unwinding

The fall triggered forced selling. BeInCrypto, citing CoinGlass, reported $837.12 million in liquidations across 227,681 traders over 24 hours, of which $693.05 million were long positions. Bitcoin accounted for $232.55 million and ether for $181.51 million. More than $200 million was liquidated within one hour, and the largest single order was an $11.85 million ether long on Binance. Cointribune put the 24-hour total at about $670 million at an earlier snapshot, which shows how much these figures change with timing. Our guide to crypto liquidations explains how these cascades work.

Weak demand for ether

Ether underperformed bitcoin for the day. FXStreet reported that US spot ether ETFs lost $110.5 million on Thursday, citing SoSoValue, and were on track for a fourth straight week of net outflows. It also said CryptoQuant's Coinbase Premium Index for ether fell to −0.137, the lowest since June. A negative reading means ether traded cheaper on Coinbase than on other exchanges, which FXStreet presented as a sign of softer US demand.

ETF flows and macro backdrop

US spot bitcoin ETFs posted a net outflow of $635.5 million on October 22, and October's month-to-date total stood at −$174.5 million, according to TFTC. Friday's flow figures had not been published by TFTC when this brief was compiled. On the macro side, Brent crude settled at $116.72 a barrel on Friday, BeInCrypto noted, keeping inflation worries and the Federal Reserve's October 27–28 meeting in focus. Traditional markets were closed on Saturday, so no new stock or bond data fed into the session.

Political & policy watch

• US and Iran. CoinDesk reported that President Donald Trump has threatened renewed action against Iran after the early-November midterms. The intelligence assessment cited by the Wall Street Journal has not been published.
• Gulf security. The State Department's order for non-essential staff to leave Saudi Arabia followed Houthi attacks on civilian infrastructure, Cointribune reported, quoting spokesperson Tommy Pigott.
• Federal Reserve. The FOMC meets on October 27–28, with the statement due on October 28, according to the Fed's calendar.
• US stablecoin rules. The OCC's final rule under the GENIUS Act takes effect on January 18, 2027, CoinDesk reported. Other agencies are still drafting their rules.
• US elections. The November 3 midterms will shape the next Congress and the outlook for crypto market-structure legislation.

What to watch next

• October 26 (Monday): US spot bitcoin and ether ETF flow data for Friday, October 23, and the first US trading session after the weekend drop.
• October 27–28: FOMC meeting; statement on October 28 at 18:00 UTC (14:00 ET), per the Federal Reserve calendar.
• October 29 (Thursday), 12:30 UTC: US Personal Income and Outlays for September, including the PCE price index, and the advance estimate of third-quarter GDP, per the BEA release schedule.
• November 3: US midterm elections.
• Ongoing: Any official statements from Washington, Tehran or Riyadh on the security situation in the Gulf.

Risk checklist for readers

• Weekend liquidity is thinner. Fewer traditional market participants trade on Saturdays and Sundays, so news can move prices further than on weekdays.
• Geopolitical headlines can reverse. Reports based on unnamed officials may be updated or denied; check official government statements.
• Leverage speeds up moves. Liquidation totals differ by data provider and snapshot time, so compare figures from the same source and window.
• Hourly and intraday lows differ. Aggregated hourly data can miss the lowest trades on individual exchanges.
• ETF data comes with a lag. Daily flow figures describe the previous US trading day.
• Watch scheduled data. The Fed decision and PCE inflation data can move crypto sharply within minutes, in either direction.

Sources

• CoinGecko: Bitcoin price and hourly market data
• CoinGecko: Ethereum price and hourly market data
• CoinGecko: Global crypto market cap and dominance
• CoinGecko: Cryptocurrency prices by market cap (BNB, XRP, Solana, Tether, USD Coin)
• CoinDesk: Crypto under weekend pressure, bitcoin slides below $80,000 on U.S. Middle East evacuations (Oct 24, 2026)
• BeInCrypto via Yahoo Finance: Bitcoin loses $80,000 as $200 million in leverage unwinds in an hour (Oct 24, 2026)
• Cointribune: Bitcoin sinks to $79,750 as crypto liquidations surge (Oct 24, 2026)
• FXStreet: Ethereum ETFs near fourth week of outflows as Coinbase Premium falls to June low (Oct 24, 2026)
• TFTC: Bitcoin ETF Flows, October 2026
• Federal Reserve: FOMC meeting calendars
• US Bureau of Economic Analysis: Release schedule
• CoinDesk: OCC's final rule on stablecoin rewards under the GENIUS Act (Oct 21, 2026)

This article is for information only and is not investment advice.