Bitcoin slips below $80,000 as tech jitters and Fed dissent weigh

Bitcoin fell below $80,000 during Thursday trading in Asia, reversing a two-day rebound as weakness in technology shares and the Federal Reserve’s rate decision weighed on crypto, according to CoinDesk’s market report. The slide also triggered hundreds of millions of dollars in forced futures sales, adding to pressure on traders who had bet prices would rise.

How did Samsung’s results affect the selloff?

Samsung shares fell after its semiconductor division’s profit missed analysts’ expectations, CoinDesk reported. The chip unit’s operating profit rose to 106.5 trillion won for the three months through September, but analysts had expected 108.5 trillion won. Samsung also projected capital spending of 84.4 trillion won this year, about 60% higher than the prior year.

The decline spread across Asian markets: South Korea’s Kospi fell more than 2%, while Nasdaq futures dropped 1.4%, according to CoinDesk. The Associated Press reported that Samsung shares were down 4.1% on Thursday, despite strong quarterly results, as some investors were disappointed by its shareholder return plans. The market moves came amid wider concerns about heavy spending on artificial intelligence.

Bitcoin dropped from above $81,700 to around $79,800, CoinDesk reported. Ether, XRP and Solana also fell. The figures describe trading at the time of the report, rather than a settled closing price.

Why did the Fed’s decision unsettle investors?

The Fed kept its benchmark rate in a range of 3.75% to 4% on Wednesday, but the vote was split 10-2. Lisa Cook and Beth Hammack preferred a quarter-point increase, according to the Fed’s statement. The committee said inflation remained elevated and that it needed more information before deciding on the right policy stance.

That dissent kept concerns about future rate rises alive. Higher rates can make speculative assets such as bitcoin less attractive to some investors. CoinDesk described the decision as a hawkish hold: rates stayed unchanged, while the dissent signalled support for a tighter policy.

How much did forced selling add to the pressure?

Crypto futures positions worth $356 million were liquidated over 24 hours, according to CoinDesk. Liquidation is the forced closure of a leveraged trade when losses reach a set limit. Long positions, which make money when prices rise, accounted for $205 million of the total.

Those sales show how borrowed bets can deepen a fast price move. The reporting confirms a sharp drop and broad market pressure; it does not establish how long either will last.

Sources and documents

• CoinDesk’s market report — coindesk.com
• Fed’s statement — federalreserve.gov