Crypto Market Today, Oct. 29: Bitcoin Slides Below $80K as Big Tech Earnings Uncertainty and Market Volatility Intensify
Bitcoin (CRYPTO:BTC) fell 1.19% to $80,297.76, Ethereum (CRYPTO:ETH) fell 1.84% to $2,313.94, and Solana (CRYPTO:SOL) fell 3.26% to $98.97. As of early evening on Oct. 29, the three largest cryptocurrencies were under pressure in a broad risk-off tape.
What's driving crypto markets
Weakness across technology stocks weighed on broader market sentiment Thursday, with selling pressure spilling into cryptocurrencies. The decline triggered approximately $356 million in crypto futures liquidations, including $205 million in long positions, according to CoinDesk.
Adding to the uncertainty, reports of a potential security breach involving wallets linked to cryptocurrency exchange Binance (CRYPTO: BNB) have raised concerns among traders. Initial reports indicate approximately $2 billion in transfers from exchange-linked wallets, though there is no confirmation that the funds were stolen or that a breach occurred. Bitcoin continued its slide on the day, falling below $79,000. The situation remains unverified and warrants close attention as more information becomes available.
Crypto ETF snapshot
Spot crypto ETFs were mixed to softer, with iShares Bitcoin Trust ETF (NASDAQ: IBIT) down 0.93% and Fidelity Wise Origin Bitcoin Fund (NYSEMKT: FBTC) down 0.89%, while iShares Ethereum Trust ETF (NASDAQ: ETHA) fell 1.53%. The moves suggest ETF investors were leaning cautious alongside the spot market.
What this means for investors
Volatility remains elevated across financial markets as investors navigate persistent geopolitical uncertainty, shifting interest rate expectations, and mixed corporate earnings. Cryptocurrencies have been particularly vulnerable to these developments, with heightened risk aversion and leveraged liquidations amplifying recent price swings.
While the broader outlook remains uncertain, positioning may lead to more reactive short-term price movements. Crypto markets may need time to absorb these developments and regain stability before a clearer direction emerges.
Top 10 crypto performance
| # | Name | Price | 24h | 7d |
|---|---|---|---|---|
| 1 | Bitcoin (BTC) | $80,297.76 | -1.2% | -0.6% |
| 2 | Ethereum (ETH) | $2,313.94 | -1.8% | -2.0% |
| 3 | Tether (USDT) | $0.9990 | -0.0% | +0.0% |
| 4 | BNB (BNB) | $738.63 | -2.1% | +2.0% |
| 5 | XRP (XRP) | $1.27 | -4.6% | -1.8% |
| 6 | USDC (USDC) | $0.9995 | -0.0% | -0.0% |
| 7 | Solana (SOL) | $98.97 | -3.3% | -3.4% |
| 8 | TRON (TRX) | $0.3312 | +0.6% | +1.0% |
| 9 | Figure Heloc (FIGR_HELOC) | $1.05 | +1.5% | +1.8% |
| 10 | Hyperliquid (HYPE) | $93.45 | +15.2% | +20.8% |
Ranked by market cap. Price and 24-hour change for BTC, ETH and SOL: FMP, the same figures used in the text above. All other figures: CoinGecko, as of October 29, 2026 20:16 UTC.
RJ Fulton has positions in iShares Bitcoin Trust. The Motley Fool has positions in and recommends iShares Bitcoin Trust. The Motley Fool has a disclosure policy.