Bitcoin fell to $81,466 early on Oct. 23, down 3.23% over the past 24 hours, as a broad sell-off in U.S. technology stocks weighed on crypto markets. The token briefly approached the $80,900 area during the move. Ether also continued lower, while total liquidations across crypto derivatives markets neared $470 million.
The pressure followed a weak close for U.S. equities on Oct. 22, with risk sentiment deteriorating across major indexes. The Nasdaq Composite dropped 694 points, or 2.60%, to 26,009, its worst single-day performance since June. The S&P 500 fell 93.7 points, or 1.21%, to 7,663, marking its weakest day since July. The Dow Jones Industrial Average rose 11.9 points to 52,868 and was little changed overall.
The Cboe Volatility Index, or VIX, climbed 14% to 19.03, pointing to a sharp increase in hedging demand. The report said AI-related stocks broadly moved lower, and that risk-off sentiment quickly spread into digital assets.
Crypto liquidations reach $471 million in 24 hours
According to CoinGlass, total liquidations across the crypto derivatives market reached $471 million over the past 24 hours. Long positions accounted for $431 million, while short positions made up $40 million.
SOL and XRP also move lower
Beyond Bitcoin and Ether, SOL and XRP both declined. SOL fell 2.98% over 24 hours to $104.05. Over the past 14 days, its high was $113.06 on Oct. 12 and its low was $100.75 on Oct. 19. XRP posted the largest decline among the tokens cited, falling 3.73% to $1.3128.
For Bitcoin, 14-day data showed a peak of $84,778 at midday on Oct. 22 and a low of $80,117 on Oct. 15. Its current price is now close to the lower end of that range.
Fear and Greed Index drops back to neutral
The Alternative Fear & Greed Index stood at 50 on Oct. 23, placing it in neutral territory. That was down 18 points from 68 a day earlier, ending a multi-day stretch in the greed zone. Over the past eight days, the index has fluctuated between 50 and 68.
