Key Takeaways
- • Bitcoin fell 3.2% to $80,840 as $635 million exited U.S. spot Bitcoin ETFs, the largest single-day outflow since June, according to Pluang.
- • Market weakness is attributed to broader concern over financing for AI infrastructure, which is weighing on risk assets including tech equities.
- • CoreWeave shares dropped 15.5% after a price target cut, while South Korea's KOSPI index showed volatility amid the same concerns.
- • Nvidia's CEO highlighted a scarcity of capital for AI-related cloud infrastructure, signaling continued challenges for AI-linked technology investment.
- • Of 50 major cryptocurrencies priced on Pluang as of 09:02 WIB on October 24, 2026, 14 rose and 35 fell.
Summary
Bitcoin declined 3.2% to $80,840 as $635 million flowed out of U.S. spot Bitcoin exchange-traded funds, according to Pluang. The withdrawal was the largest single-day outflow from these products since June, and the decline is being linked to wider market concern about how artificial intelligence infrastructure will be financed.
The selloff extended beyond crypto. CoreWeave, a company tied to AI cloud infrastructure, saw its shares fall 15.5% following a price target cut. South Korea's KOSPI index also displayed volatility as investors weighed the same financing questions. Nvidia's chief executive officer pointed to a scarcity of capital available for AI-related cloud infrastructure, a comment that underscores the challenges facing technology investment tied to AI expansion.
Broader crypto market activity was mixed. In Pluang's snapshot as of October 24, 2026 at 09:02 WIB, 14 of 50 major cryptocurrencies priced on the platform rose and 35 fell. Balancer (BAL) gained 11.14% to Rp16,297 and EOS (EOS.IO) rose 8.13% to Rp12,649, while The Sandbox (SAND) declined 7.22% to Rp912. Pluang order activity for SAND showed 60% sell orders and 40% buy orders.
Separately, on October 23, wallets linked to BlackRock ETFs transferred a combined $355.63 million in Bitcoin and Ether to Coinbase Prime within two hours, including 3,215 BTC (about $262.41 million) and 38,882 ETH (about $93.22 million). The transfer was more than double a previous $143.04 million movement, according to reporting cited in the Pluang feed.
The selloff extended beyond crypto. CoreWeave, a company tied to AI cloud infrastructure, saw its shares fall 15.5% following a price target cut. South Korea's KOSPI index also displayed volatility as investors weighed the same financing questions. Nvidia's chief executive officer pointed to a scarcity of capital available for AI-related cloud infrastructure, a comment that underscores the challenges facing technology investment tied to AI expansion.
Broader crypto market activity was mixed. In Pluang's snapshot as of October 24, 2026 at 09:02 WIB, 14 of 50 major cryptocurrencies priced on the platform rose and 35 fell. Balancer (BAL) gained 11.14% to Rp16,297 and EOS (EOS.IO) rose 8.13% to Rp12,649, while The Sandbox (SAND) declined 7.22% to Rp912. Pluang order activity for SAND showed 60% sell orders and 40% buy orders.
Separately, on October 23, wallets linked to BlackRock ETFs transferred a combined $355.63 million in Bitcoin and Ether to Coinbase Prime within two hours, including 3,215 BTC (about $262.41 million) and 38,882 ETH (about $93.22 million). The transfer was more than double a previous $143.04 million movement, according to reporting cited in the Pluang feed.
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