Bitcoin’s latest decline accelerated on Thursday, taking the cryptocurrency to just above $80,000 and putting it near a one-month low as traders confronted renewed pressure across digital-asset markets. The move came shortly before the one-year anniversary of a sharp sell-off that saw bitcoin lose roughly $17,000 in a matter of minutes during thin trading.
According to CoinDesk, bitcoin was down about 4% over 24 hours at the time of its report. The cryptocurrency had also fallen more than 8% from a level close to $87,000 reached four days earlier. The weakness was more severe elsewhere in the market: ether and XRP each declined about 6% over 24 hours, while solana dropped roughly 9%. All four assets were down by double-digit percentages over the previous week, according to the report.
A sharp move ahead of a difficult anniversary
The latest selling arrives as the market approaches October 10, the anniversary of the 2025 flash crash. Bitcoin had reached an euphoric record above $126,000 only days before that event. On October 10, it fell from approximately $122,000 to $105,000, with some exchanges recording an even lower level.
Much of that decline took place within minutes during thin Friday evening trading in the United States. Thin trading can mean that fewer buy and sell orders are available at different prices, making a market more vulnerable to abrupt moves when selling intensifies. The memory of that episode is now part of the backdrop for the current drop, although the source material does not identify the anniversary as the sole cause of Thursday’s decline.
Bitcoin’s move also reflects broader pressure on assets considered sensitive to changes in market risk appetite. Rising oil prices and interest rates were identified as negative catalysts. Higher rates can make interest-bearing assets more attractive relative to assets that do not generate income, while more expensive energy can add to concerns about inflation and financial conditions. In the current market, those pressures are contributing to investor caution around risk assets such as bitcoin.
Additional uncertainty for crypto markets
The source report also points to regulatory uncertainty as another concern for digital-asset investors. The Clarity Act has failed, while upcoming U.S. midterm elections could alter the balance of power in Washington. The material does not specify how either development will affect individual cryptocurrencies, but both add to uncertainty over the policy environment in which the sector operates.
The breadth of the decline is significant. Bitcoin’s loss was smaller than the falls recorded by several major alternative cryptocurrencies over the same 24-hour period, while ether, XRP and solana also posted double-digit weekly declines. That pattern indicates that the selling was not limited to bitcoin alone and was being felt across several large digital assets.
Long-term institutional view remains more constructive
Short-term price weakness has not eliminated signs of growing institutional interest in the broader digital-asset market. A State Street survey published Tuesday questioned 300 asset managers, asset owners and wealth managers. About 51% of respondents said they expect digital assets to become mainstream within the next five years, compared with 11% in 2024.
The survey also found that institutions held an average of 11% of their portfolios in digital assets and expected that allocation to increase over the next three years. Those findings suggest that at least some professional investors continue to see longer-term adoption potential, even as prices remain under pressure and the market struggles to sustain upward momentum.
The contrast is therefore clear: current trading is being shaped by falling prices, higher oil costs, interest rates, regulatory uncertainty and the approach of a painful market anniversary, while institutional survey responses point to a more positive view of digital assets over a longer horizon. The two perspectives can coexist, with near-term volatility affecting prices even as some investors maintain confidence in future adoption.
Moneyiar market picture
Moneyiar market data at 21:29 on October 8, 2026, showed bitcoin at $81,633.61, down 1.98% over 24 hours and 3.46% over seven days. NEAR Protocol was trading at $4.52, down 15.17% over 24 hours and 6.12% over seven days. These figures provide a snapshot of continued weakness, particularly in NEAR’s one-day move, while bitcoin remained above the $80,000 level described in the report.
