Sunday Wrap · Sunday Wrap
Sunday Wrap: bitcoin fell under $80,000 as leverage cleared
A week that took bitcoin through $80,000, churned US spot ETF flows, and left ether's leveraged book looking large size for size, with Israel's vote and an FOMC meeting on the calendar.
Bitcoin printed under $80,000 on Saturday for the first time since mid-October, while leveraged longs absorbed most of the forced closings that day, and US spot bitcoin exchange-traded funds finished the week of Oct. 19-23 with a net inflow after two weekly outflows. Ether's long liquidations, size for size, hit harder than bitcoin's in Saturday's window. The calendar ahead holds Israel's Oct. 27 election and a Federal Open Market Committee meeting on Oct. 27-28.
The week that was
Early in the week, Markets tracked breadth around bitcoin's Oct. 20-21 bounce, Chart Desk readings on USDC supply and ether fees, SoFi's SOFIE deposit token, 21Shares ending ARK's role at ARKB, SpaceX and Tesla bitcoin holdings, and a16z renaming its crypto unit a16z Frontier. Midweek coverage turned to Hyperliquid's traditional-asset perps, Franklin's bitcoin-dividend ETF filings, and the ETF Flow Read as bitcoin funds swung from a three-day inflow streak into a large Oct. 22 outflow.
Saturday was the week's hard print. Bitcoin traded under $80,000 intraday, then recovered near $80,524 by about 3:06 p.m. ET; crypto-only liquidations over the 24 hours to about 3:05 p.m. ET ran to about $117.4 million in shorts and $669.7 million in longs, per CoinMarketCap after Le Coin removed non-crypto contracts. Bitcoin also closed below its 50-day simple average on Oct. 22 for the first time since August, then closed below again on Oct. 23, as total crypto market value sat about $217.6 billion under its Oct. 5 peak. An intraday CoinGecko low near $79,263 sat under the treasury cost-basis levels Le Coin tracked Saturday in its Markets piece, while the UTC daily close still finished above $80,000. Ether's 24-hour long liquidations were about 71% of bitcoin's while ether's market capitalization was only about 17.5% of bitcoin's. Overnight into Sunday, Le Coin re-read two Hyperliquid accounts holding about $220 million of ether longs with public liquidation prices near $2,178 and $2,182.
Markets also covered Franklin's sgBENJI on XRPL, Irys giving back Friday's rally, Kraken withdrawing Monero questionnaires, and a Grayscale-framed explainer on earnings, buybacks and dilution. Protocols & Policy ran Netanyahu's blockchain-sanctions comments and the Bank of Israel's reply that crypto cannot bypass sanctions, ahead of Israel's Oct. 27 election.
Interesting reads
- Bitcoin fell below $80,000 as nearly $670M in longs liquidated (
2026-10-24-btc-below-80k-long-liquidations): the Saturday print under $80,000 and the shorts-then-longs liquidation split. - Bitcoin funds reverse two weeks of outflows as ether keeps losing (
2026-10-24-etf-flow-read-oct-19-23): the Oct. 19-23 weekly Farside scorecard after the midweek swing. - Ether long liquidations hit harder than bitcoin's, size for size (
2026-10-24-ether-leverage-vs-bitcoin-liquidations): the same-day size-for-size read on leveraged ether versus bitcoin. - Franklin files for two ETFs that turn stock dividends into bitcoin (
2026-10-23-franklin-bitcoin-dividend-etfs): FBEQ and FIBT filings with an Oct. 27 prospectus date; neither fund is trading yet. - How earnings and dilution shape crypto token valuations (
2026-10-24-token-valuation-earnings-buybacks-dilution): a framework on protocol fees, buybacks and issuance, not a ranking of tokens to own.
Week ahead
| When (ET) | What |
|---|---|
| Mon Oct. 26 | Le Coin Markets piece on bitcoin's share of crypto market value is cleared for Monday publish (2026-10-26-btc-dominance). |
| Tue Oct. 27 | Israel's election, noted in Le Coin's Netanyahu and Bank of Israel coverage this week. |
| Tue Oct. 27 | Franklin's FBEQ and FIBT post-effective amendment is proposed to become effective; prospectuses carry that date. Registration is not an SEC approval, and neither fund is trading yet. |
| Tue-Wed Oct. 27-28 | Federal Open Market Committee meeting. The Board calendar lists the two-day meeting; the policy statement and Chair press conference are scheduled for Wednesday afternoon ET. |
Descriptive calendar only. No rate or market outcome is implied.
Liquidations
Crypto short liquidations totaled $42.2M and long liquidations $40.2M over the 24 hours to 4:20 p.m. ET, according to CoinMarketCap data. Liquidations are leveraged derivatives positions that exchanges forcibly close when margin runs out; this measure is the USD value of those closures across exchanges CoinMarketCap tracks, crypto contracts only. Data: CoinMarketCap.
Top five coins by 24-hour liquidations, 24 hours to 4:20 p.m. ET:
| # | Coin | 24h total | Longs | Shorts |
|---|---|---|---|---|
| 1 | Ethereum (ETH) (+0.2%) | $22.6M | $10.1M | $12.4M |
| 2 | Bitcoin (BTC) (+0.0%) | $12.8M | $4.7M | $8.2M |
| 3 | Capricorn (APR) (+68.4%) | $4.5M | $2.5M | $2.0M |
| 4 | Zcash (ZEC) (+1.0%) | $3.7M | $1.3M | $2.4M |
| 5 | Janction (JCT) (-3.4%) | $3.5M | $1.3M | $2.2M |
Non-crypto perpetual futures liquidations
Non-crypto short liquidations totaled $0.7M and long liquidations $0.6M over the same 24 hours, across metals, stocks, ETFs and energy contracts in CoinMarketCap's per-asset list. The figure is a floor: it covers only non-crypto entries in that top-250 list. Data: CoinMarketCap.
| # | Contract | 24h total | Longs | Shorts |
|---|---|---|---|---|
| 1 | SanDisk Corporation (SNDK) (+2.2%) | $0.4M | $0.1M | $0.3M |
| 2 | Crude Oil Futures (CL) (-0.9%) | $0.3M | $0.2M | $0.1M |
| 3 | Gold (XAU) (+0.2%) | $0.1M | $0.1M | $0.1M |
| 4 | Yushu Technology Co (UNITREE) (+0.9%) | $0.1M | $0.0M | $0.1M |
| 5 | Direxion Daily Semiconductor ETF (SOXL) (+1.6%) | $0.1M | $0.0M | $0.0M |
Sources (7)
- Le Coin Markets coverage, week of Oct. 20-25, 2026 (linked above by slug path), including
/markets/2026-10-24-btc-below-80k-long-liquidations/,/markets/2026-10-24-etf-flow-read-oct-19-23/,/markets/2026-10-24-ether-leverage-vs-bitcoin-liquidations/,/markets/2026-10-23-franklin-bitcoin-dividend-etfs/,/markets/2026-10-24-token-valuation-earnings-buybacks-dilution/,/markets/2026-10-24-btc-50-day-close-market-cap/,/markets/2026-10-24-btc-treasury-cost-basis-dip/,/markets/2026-10-25-hyperliquid-eth-longs-liquidation-levels/. - Le Coin Protocols & Policy:
/protocols-policy/2026-10-23-netanyahu-blockchain-sanctions-option/,/protocols-policy/2026-10-24-bank-of-israel-netanyahu-crypto-sanctions/(Israel Oct. 27 election noted via Ynet in the Netanyahu piece). - Data: CoinMarketCap, https://coinmarketcap.com, crypto and non-crypto liquidations 24 hours to 4:20 p.m. ET Oct. 25, 2026; 24h price changes as reported by CoinMarketCap for listed coins and contracts.
- Farside Investors, https://farside.co.uk, US spot bitcoin and ether ETF flow tables for the week of Oct. 19-23, 2026 (as cited in Le Coin's ETF Flow Read).
- Franklin Templeton ETF Trust, Form N-1A Post-Effective Amendment No. 172 (485BPOS), filed Oct. 22, 2026, https://www.sec.gov/Archives/edgar/data/1655589/000165558926001380/c485bpos.htm (FBEQ/FIBT proposed effective Oct. 27, 2026).
- Board of Governors of the Federal Reserve System, FOMC meeting calendars, https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm, and October 2026 calendar, https://www.federalreserve.gov/newsevents/2026-october.htm (meeting Oct. 27-28, 2026; statement and press conference Wednesday).
- Le Coin Markets, cleared draft for Monday publish:
2026-10-26-btc-dominance(bitcoin share of crypto market value).
Holding the Corner.
Not financial advice.