Bitcoin slides to one-month low near $80,000 as flash-crash anniversary nears
In brief
- Bitcoin fell to about a one-month low just above $80,000 on Thursday, per CoinDesk.
- BTC was down 4% in 24 hours and more than 8% below its level four days earlier.
- Ether and XRP fell about 6% and solana fell 9%; all four are down double digits weekly.
- State Street survey: 51% of institutions expect digital assets to go mainstream within five years.
The majors fell harder
Bitcoin wasn't the worst performer in CoinDesk's report. Ether and XRP fell about 6% over the past day, while solana dropped 9%. All four (bitcoin, ether, XRP and solana) were down by double-digit percentages over the past week, according to the same report.
It's not just a bitcoin story.
These prices come from CoinDesk's report as of Thursday afternoon U.S. time. They aren't live quotes.
A year after October 10
On October 10, 2025, bitcoin tumbled from about $122,000 to $105,000 (and even lower on some exchanges), with much of the drop happening within minutes during thin Friday evening U.S. trading. That crash came only days after bitcoin had set a record above $126,000, CoinDesk noted.
Now the anniversary is two days away, and the selling has picked up again.
What CoinDesk points to
CoinDesk's analysis lists a few pressures, though none is confirmed as the cause of Thursday's move. The report said continued rises in oil prices and interest rates could pull money away from risk assets like bitcoin. It also cited regulatory uncertainty after the Clarity Act failed, along with the upcoming midterm elections (which CoinDesk said could change the balance of power in Washington).
Not every data point this week was bearish. A State Street survey of 300 asset managers, asset owners and wealth managers, published Tuesday and reported by CoinDesk, found that about 51% of respondents expect digital assets to become mainstream within five years, up from 11% in 2024. The same survey found institutions hold an average of 11% of their portfolios in digital assets and expect that share to rise over the next three years.
So there's a gap between the short-term tape and what large allocators told State Street. CoinDesk's report doesn't say which one wins out, and we don't either.
Frequently asked questions
What happened in the October 10, 2025, bitcoin flash crash?
On October 10, 2025, bitcoin fell from about $122,000 to $105,000, and even lower on some exchanges, according to CoinDesk. Much of the drop happened within minutes during thin Friday evening U.S. trading. It came only days after bitcoin had set a record above $126,000.
What reasons did CoinDesk give for the October 2026 crypto sell-off?
CoinDesk's analysis pointed to continued rises in oil prices and interest rates, which it said could pull money away from risk assets like bitcoin. It also cited regulatory uncertainty after the Clarity Act failed, plus the upcoming midterm elections. None of these was confirmed as the direct cause.
