Bitcoin (BTC) briefly slipped below $80,000 over the weekend. It fell as low as $79,280 on Oct. 24 before recovering above $80,000 around 1 p.m. Eastern time. It marked an additional decline after stocks fell more than 3 percent on Oct. 22 as concerns grew over fundraising in the artificial intelligence (AI) industry. Crypto outlet The Crypto Basic (TCB) reported this on Oct. 24, and Cointelegraph reported it on Oct. 23.

CoinGlass data showed liquidations totalled $436.44 million over the four hours to 1 p.m. Eastern time. Long positions accounted for $404.15 million. Ethereum (ETH) liquidations totalled $136.72 million and bitcoin $158.45 million.

Earlier on Oct. 22, bitcoin fell 3.2 percent to as low as $80,840 on Bitstamp. Much of the pressure came from a 15.5 percent weekly drop in neocloud company CoreWeave to its lowest level since May 2025. Bernstein cut its target price to $51 from $74. Crypto trading firm QCP Capital analysed that the spread of credit stress in the neocloud sector drove broader weakness in equities. Nvidia CEO Jensen Huang (젠슨 황) also cited a "scarcity of capital" in a CNBC interview and said capital demand was far greater than supply.

Outflows were also large. U.S. spot bitcoin ETFs recorded net outflows of $635 million on Oct. 22, the largest daily amount since late June. The KOSPI fell as low as 5,305 during trading on Oct. 23, its lowest since late July, but ended up 0.3 percent.

Industry updates also continued. BitMEX co-founder Arthur Hayes (아서 헤이스) said on Oct. 24 he had closed directional trading positions at family office Maelstrom. He sold ETH, Ethena (ENA) and Uniswap (UNI), and said it was profit-taking amid economic and geopolitical uncertainty. He did not say when he would return.

Bitcoin wallet Electrum urged all users to update to version 4.8.3, which addresses a serious security issue. Tether said 15 companies including Bitmain, Bitdeer, Canaan, Foundry Digital and Block's Proto will participate in integrated development of an open-source mining development kit (MDK), adding that it aims to release an official version 1.0 within the year. Initia said on Oct. 23 an attack was caused by a software flaw that allowed security checks to be bypassed. It said about $2.7 million in assets were drained and converted into 1,135.52 ETH. The main blockchain and rollup remain halted, and it expects fixes and an audit to take several days.