The crypto market faced a broad decline on Saturday, October 24, 2026, with the total market capitalization dropping 2.87% to about $2.65 trillion. Trading volume also fell 7.4% to approximately $60.6 billion. Bitcoin (BTC) slipped below $80,000 for the first time since mid-October, trading near $79,300, down 2.57% on the day. This break below the October 15 low of about $79,800 marked a significant technical shift, with the next major support level near $75,000.
Altcoins experienced steeper declines, with Zcash (ZEC) leading the losses at 8.65%. Other major tokens like Cardano (ADA), Dogecoin (DOGE), Chainlink (LINK), Solana (SOL), and Stellar (XLM) each lost between 5% and 6.5%. Monero (XMR) was the only top-20 coin showing a weekly gain, up about 8%. Fund flows turned negative, with US spot Bitcoin ETFs recording significant outflows of $635.6 million on Thursday and $137.9 million on Friday. Ether ETFs also lost $110.6 million on Thursday.
The sell-off was triggered by a decline in tech stocks, with the Nasdaq Composite falling 2.6% on Thursday. This led to about $431 million in leveraged position liquidations, mostly long positions. Traders are also bracing for the Federal Reserve's decision on October 28, which has heightened macroeconomic risks. The CoinMarketCap Fear and Greed Index dropped to 42, indicating a neutral but weakening sentiment.
Looking ahead, the market is watching key events such as the Federal Reserve's decision, US GDP and PCE inflation data, and quarterly results from Coinbase and Strategy. Ethereum’s Glamsterdam upgrade is set to reach the Hoodi test network on October 26. A recovery would likely require Bitcoin to reclaim $80,000 and ETF flows to turn positive again.