# Bitcoin falls below $80,000 as a technology sell-off and the Fed hold trigger $356 million in liquidations

Gold and silver also fell after the Federal Reserve decision, but by less, and bitcoin's losses followed the Nasdaq and Samsung rather than the metals.

- Published: 2026-10-29T05:12:07.061Z
- Canonical: https://polylog.news/2026-10-29/bitcoin-falls-below-80-000-as-a-technology-sell-off-and-the
- Publisher: Polylog (Global desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/markets/2026/10/29/bitcoin-dips-below-usd80-000-as-samsung-led-risk-aversion-in-tech-and-a-hawkish-fed-weigh-on-crypto), [Bitcoin Magazine](https://bitcoinmagazine.com/markets/bitcoin-price-trades-near-81500-fed)

Bitcoin fell below $80,000 in Asian trading on Thursday, [CoinDesk reported](https://www.coindesk.com/markets/2026/10/29/bitcoin-dips-below-usd80-000-as-samsung-led-risk-aversion-in-tech-and-a-hawkish-fed-weigh-on-crypto), citing falling technology shares, led by Samsung, and the Federal Reserve's hawkish decision to hold rates. CoinDesk said the move forced the closure of $356 million in leveraged crypto futures positions.

The decline came in two stages. Right after the Fed's 10-2 vote on Wednesday, bitcoin held near $81,000 and traded above $81,500 at points, [Bitcoin Magazine reported](https://bitcoinmagazine.com/markets/bitcoin-price-trades-near-81500-fed). The larger drop came overnight, when Nasdaq 100 futures fell 1.3% after the Alphabet and Microsoft results and Samsung shares fell in Seoul.

The monetary metals also fell, but by less. Spot gold fell 0.6% to $4,035.48 an ounce after the Fed statement, [Kitco reported](https://www.kitco.com/news/article/2026-10-28/gold-price-drops-4035oz-fed-votes-10-2-favor-rate-hold), and traded near $4,044 in Asia on Thursday, [according to Goodreturns](https://www.goodreturns.in/news/gold-rates-silver-rates-today-29-10-2026-live-spot-gold-silver-price-mcx-gold-24k-22k-18k-gold-price-1543821.html), which put spot silver near $53.15 after a decline of about 1%. All three assets fell on the prospect of higher real rates. Only bitcoin then fell further alongside technology stocks.

## What this means

The forced liquidations show the mechanism at work. Bitcoin's marginal buyer uses leverage and also holds technology equities, so when the Nasdaq falls, crypto positions get cut to meet margin calls. Gold's buyers include central banks that buy on weakness, and their behavior does not track the Nasdaq. Both assets lose value when real-rate expectations rise, but only bitcoin carries the additional leverage and equity link. The "digital gold" framing of bitcoin breaks down in exactly this situation: a hawkish central bank combined with a war premium in oil. If the Fed stays on hold and the hawks gain votes, the likelier outcome over the coming weeks is that bitcoin keeps tracking the Nasdaq more closely than gold. That read would be proved wrong if bitcoin rises while technology stocks fall, which has not happened at any recent stress point.

## What to watch

- Funding rates and open interest in bitcoin futures. A rebuild of leverage after today's liquidations would set up the next forced sale.
- The gap between gold and bitcoin performance during any US strike on Iran. That is the clearest live test of the safe-haven claim.
- Flows into US spot bitcoin exchange-traded funds. Sustained outflows would show institutional holders treating bitcoin as a risk position.