Key Takeaways
- • Bitcoin traded near $81,800 after falling below $82,000, with forced liquidations erasing gains from a brief rally; total crypto market value fell to roughly $2.74 trillion, down 1.21% in 24 hours.
- • Bitcoin liquidations surged 80% in 24 hours to $119.1 million, while funding rates indicated leveraged bitcoin positions were unwinding.
- • U.S. spot Bitcoin ETFs recorded $528 million in net inflows on October 21, led by BlackRock's IBIT with $235 million, according to SoSoValue.
- • Spot Ethereum ETFs took in $14.96 million, with Grayscale's Ethereum Mini Trust (ETH) posting the largest single inflow at $28.07 million.
- • Reports say the U.S. and Israel are weighing new strikes on Iran after the November midterm elections, but President Donald Trump has not approved the operation.
Summary
Bitcoin hovered near $81,800 after slipping below $82,000, as forced liquidations wiped out gains from a brief rally. The overall cryptocurrency market fell to about $2.74 trillion, down 1.21% over 24 hours. Ethereum traded around $2,400 and XRP dipped to $1.30, a pattern seen across the market's top assets. Bitcoin liquidations jumped 80% in 24 hours to $119.1 million, and funding rates indicated that leveraged bitcoin positions were unwinding.
Geopolitical risk weighed on sentiment. The U.S. and Israel are reportedly considering "options" for a new strike on Iran following the November midterm elections, though President Donald Trump has not signed off on the planned operation and could still change his mind. Reported targets include nuclear facilities, energy plants, and Iranian missile and drone bases. Officials are weighing whether additional strikes would force Tehran to make concessions, and Iranian officials have threatened a regional response if attacks are repeated.
Institutional demand remained a support. Data from SoSoValue show U.S. spot Bitcoin ETFs drew $528 million in net inflows on October 21, with BlackRock's IBIT leading at $235 million. Spot Ethereum ETFs attracted $14.96 million in aggregate, with Grayscale's Ethereum Mini Trust (ETH) recording $28.07 million, more than the net total for all Ethereum funds combined.
Technically, bitcoin was trading at $81,760.79 on the four-hour chart after failing to break $85,000 resistance in its last recovery. The relative strength index fell to 43.41, below the 50 midpoint, and the MACD showed a bearish crossover with a negative histogram of -84.54, indicating weakening upward momentum. Analysts cited $80,500 as the nearest support, with a sustained break below it potentially opening a move toward $78,000. Holding $80,500 could allow a rebound toward $82,000, while a sustained move above $83,500 would bring $85,000 into focus.
Geopolitical risk weighed on sentiment. The U.S. and Israel are reportedly considering "options" for a new strike on Iran following the November midterm elections, though President Donald Trump has not signed off on the planned operation and could still change his mind. Reported targets include nuclear facilities, energy plants, and Iranian missile and drone bases. Officials are weighing whether additional strikes would force Tehran to make concessions, and Iranian officials have threatened a regional response if attacks are repeated.
Institutional demand remained a support. Data from SoSoValue show U.S. spot Bitcoin ETFs drew $528 million in net inflows on October 21, with BlackRock's IBIT leading at $235 million. Spot Ethereum ETFs attracted $14.96 million in aggregate, with Grayscale's Ethereum Mini Trust (ETH) recording $28.07 million, more than the net total for all Ethereum funds combined.
Technically, bitcoin was trading at $81,760.79 on the four-hour chart after failing to break $85,000 resistance in its last recovery. The relative strength index fell to 43.41, below the 50 midpoint, and the MACD showed a bearish crossover with a negative histogram of -84.54, indicating weakening upward momentum. Analysts cited $80,500 as the nearest support, with a sustained break below it potentially opening a move toward $78,000. Holding $80,500 could allow a rebound toward $82,000, while a sustained move above $83,500 would bring $85,000 into focus.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.