Bitcoin rebounded to $80,800 on Sunday, recovering from a sharp weekend selloff that saw prices dip as low as $79,146. The decline triggered over $810 million in cryptocurrency liquidations, with $689 million of those being bullish bets, according to Coinglass data. Thin weekend liquidity exacerbated selling pressure as leveraged positions were forcibly closed after Bitcoin fell below the $80,000 threshold. As of early Sunday, Bitcoin was trading at $80,936.3, nearing $81,000.
The Federal Reserve’s upcoming interest rate decision on October 27-28 is a key focus for traders. Higher rates could strengthen the dollar and reduce demand for riskier assets like Bitcoin, while a less hawkish stance might support a recovery. Elevated oil prices, trading above $117 amid the Iran war, are adding to inflation concerns and complicating the economic outlook.
Corporate Bitcoin treasury companies are facing challenges balancing cryptocurrency purchases with financing obligations. Fidelity Digital Assets reported that perpetual preferred stock offerings have financed the purchase of approximately 136,000 Bitcoin since 2025. Companies like Strategy and Strive have relied on preferred shares to raise capital, but recurring dividend payments could limit future acquisitions. Strategy recently spent $193 million repurchasing preferred shares while acquiring just 267 Bitcoin.
Meanwhile, Xapo Bank CEO Seamus Rocca noted that wealthy Bitcoin investors are increasingly borrowing against their holdings rather than selling. He suggested that institutional allocations could support long-term demand, though regulatory and geopolitical uncertainties remain obstacles. In another development, hardware wallet manufacturer Keystone disclosed a data breach affecting customer names, contact information, and purchase details, though private keys and payment information were not compromised.
Broader crypto prices were mixed on Sunday. Ether fell 0.56% to $2,369.34, while XRP rose 1.63% to $1.3139. Solana declined 0.03% to $102.68, and BNB surged 1.14% to $748.60. Cardano retreated 1.84% to $0.2081, and Dogecoin lost 1.08%. Among meme coins, TRUMP rose 1.12%, while Shiba Inu fell 1.79%.