Bitcoin falls below $80,000 as Samsung miss and hawkish Fed hold spark $356M in liquidations

29 Oct 2026

29 Oct 2026, 06:12 UTC+01:00

Bitcoin TradeReviewed News Desk

Bitcoin dropped below $80,000 during Thursday’s Asian session, October 29, giving back a two-day rebound as risk aversion spread from technology stocks into crypto. According to CoinDesk, BTC fell from above $81,700 to around $79,800, pulling ether, XRP, solana and most large tokens lower with it. On OKX, Bitcoin traded near $80,380 around 06:10 CET, down about 0.7% over 24 hours, while ether sat near $2,329.

Samsung sets off the tech selloff

The trigger came from Seoul. Samsung shares fell more than 5% after its semiconductor division missed lofty expectations. The chip unit still posted a 15-fold jump in operating profit to 106.5 trillion won for the July to September quarter, but that was short of the 108.5 trillion won analysts expected on average, CoinDesk reported. Samsung also guided capital expenditure to 84.4 trillion won this year, about $63 billion and up roughly 60%.

South Korea’s Kospi fell more than 2% and Nasdaq futures dropped 1.4%, and that tone carried straight into crypto, which has traded closely with tech risk appetite.

A hawkish hold from the Fed

The selloff followed Wednesday’s Federal Reserve decision to keep rates at 3.75% to 4%. Chair Kevin Warsh said progress on inflation is being made but price pressures remain too high, and ING still expects another hike in December. BlackRock’s Rick Rieder told investors to avoid a “heroic directional call” on rates. Higher real yields tend to compete with speculative assets for capital, which is the main macro headwind for BTC right now. We covered the decision in our report on Bessent’s comments after the Fed.

Leveraged longs pay the price

Futures positions worth $356 million were liquidated over 24 hours, with longs accounting for $205 million, per CoinDesk. Bitcoin futures saw $94 million in liquidations and ether futures $72 million.

What it means for traders

The $80,000 level is now the line the market is watching. US third-quarter GDP and the September PCE inflation data due later on Thursday could decide whether the December hike case gets stronger. A hot print would add pressure on risk assets, a softer one could relieve it. With liquidations clustering on the long side, expect sharp wicks around the release and keep leverage modest.

If you trade BTC derivatives, fees and liquidation engines differ a lot between venues. Compare them in our crypto exchange comparison, where BingX ranks first and OKX second, or read how we test exchanges.

For information only, not financial advice. Prices: OKX spot market data around 06:10 CET.

Sources

• CoinDesk: Bitcoin dips below $80,000 as Samsung-led tech jitters and a hawkish Fed weigh on crypto

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Related reviews

• Bingx review
• Okx review

Sources

• CoinDesk: Bitcoin dips below $80,000 as Samsung-led tech jitters and a hawkish Fed weigh on crypto

News is for information only and is not financial advice. More crypto news