Daily Crypto Price Analysis - October 23, 2026: Bitcoin, Ethereum and Market Trends

Bitcoin came under renewed selling pressure over the past 24 hours, retreating from the $84,500–$84,800 region toward $81,000 as a broader risk-off move swept across global markets. The decline was driven by a combination of renewed U.S.–Iran geopolitical tensions and a sharp technology-led sell-off on Wall Street, with the Nasdaq falling 2.6% as concerns around AI valuations and spending resurfaced.

Leverage amplified the move. More than $436 million in crypto positions were liquidated over 24 hours, with roughly 89% coming from long positions, indicating that the break below $82,000 triggered significant forced selling.

Interestingly, Bitcoin has weakened despite strong recent spot ETF demand, with more than $1 billion of net inflows recorded across three sessions. This suggests that institutional demand remains present, but substantial sell-side supply continues to absorb buying around the $84,000–$85,000 region.

Technically, the $81,300–$81,500 zone is critical, as it broadly coincides with the estimated U.S. spot Bitcoin ETF cost basis. A sustained break below this area could expose $79,800–$80,000, followed by the broader $78,000–$79,000 demand zone. On the upside, Bitcoin needs to reclaim $82,000–$82,600 first, while a decisive move above $84,400–$84,800 would be required to restore near-term bullish momentum.

Ethereum is also attempting to stabilize after bouncing from the $2,350–$2,375 support zone. A recovery above $2,420–$2,440 would be the first sign of improving momentum, while failure to hold $2,350 could expose the broader $2,300 area.

For now, the market remains highly sensitive to equity-market sentiment, geopolitical developments and upcoming U.S. macro data.

Disclaimer: This article is for educational and informational purposes only. It is not financial, investment, legal or tax advice, and it is not a recommendation or solicitation to buy, sell or hold any crypto asset or derivative.