According to The Block, Bitcoin briefly fell below $80,000, with $404 million in long liquidations within four hours and $773 million in net outflows from spot Bitcoin ETFs over two consecutive trading days.
According to The Block, Bitcoin's price briefly fell below the $80,000 mark. Market data showed that in the four hours after BTC's decline, long liquidations reached $404 million; spot Bitcoin ETFs recorded net outflows for two consecutive trading days, totaling $773 million. The price breach of the key level, leveraged long liquidations and ETF outflows occurred in the derivatives market and spot ETF market respectively, putting Bitcoin's short-term price action under the crypto market's spotlight.
$80,000 is a closely watched round-number level for Bitcoin recently. The $404 million in long liquidations disclosed here corresponds to a four-hour statistical window; the $773 million in ETF net outflows corresponds to two consecutive trading days. The two data points cover different time spans and product types and should not be broadly treated as the same time window. Based on available material, the brief drop below $80,000 and the four-hour long liquidation data occurred in a similar period, while the ETF net outflow data covers two trading days.
In the derivatives market, $404 million in long liquidations within four hours indicates that the short-term price decline triggered relatively large-scale forced liquidations. Long liquidations usually mean that previously bullish leveraged positions were closed during the price decline. Long liquidations bring passive selling, which may increase supply pressure in a short period and raise market volatility. For funds focused on short-term trading, larger liquidation volumes mean volatility may increase, and market liquidity near key price levels is more likely to be affected. The available material does not provide longer-period position change data, so it is not yet possible to determine whether liquidation pressure will continue.
On spot ETF flows, spot Bitcoin ETFs recorded net outflows of $773 million over two consecutive trading days. Spot Bitcoin ETFs connect traditional capital with the Bitcoin market, and changes in their flows are often used to gauge allocation demand for related products. Consecutive net outflows indicate that funds left the products over the two trading days. The data occurred close in time to Bitcoin's drop below $80,000, but it covers two trading days and should be viewed separately from the four-hour liquidation data. Changes in ETF product flows not only affect the products themselves but may also transmit to broader trading activity through market sentiment and liquidity expectations. Based on the available information, it can be confirmed that ETF products saw large net outflows for two consecutive days, occurring in the same period as the price decline.
Based on public data, the core facts of this event include: Bitcoin briefly fell below $80,000; $404 million in long liquidations in four hours; and $773 million in net outflows from spot Bitcoin ETFs over two consecutive days. The three data points come from spot prices, derivatives liquidations and ETF flows, respectively. After the price fell below the key round-number level, leveraged longs were forcibly liquidated, and derivatives market liquidations further increased price volatility; consecutive outflows from spot ETFs reflected weakened short-term demand for related products through traditional capital channels. This statement is based only on public data and does not constitute an additional judgment on causality.
Source: The report is from The Block. The report link is: https://www.theblock.co/news/markets/2026-10-24/crypto-longs-lose-404-million-in-four-hours-as-bitcoin-briefly-slips-below-80000-431608.
Going forward, focus on whether Bitcoin can stabilize back above $80,000, whether long liquidations in four-hour and longer windows continue, and whether daily flows into spot Bitcoin ETFs continue to show net outflows. The price threshold, liquidation data and ETF flows remain the main data for observing this move. Follow-up developments should be based on public data.
