Key Highlights

  • Bitcoin reached approximately USD 79,146 on Saturday, October 24, 2026, after falling through USD 80,000 to a more-than-one-month low.
  • One measure put 24-hour liquidations at USD 810 million and another at USD 834 million, including around USD 404 million of long positions over four hours.
  • After finishing Friday, October 23 near USD 81,230, the coin later recovered toward USD 80,800 before Monday, October 26.
  • Because the fund trades on weekdays while bitcoin trades continuously, Saturday's underlying move reaches shareholders when the US market reopens.

What Did the Weekend Bitcoin Selloff Mean for IBIT?

IBIT (NASDAQ:IBIT), the iShares Bitcoin Trust ETF, directly owns bitcoin and follows its spot value. The coin crossed beneath USD 80,000 on Saturday, October 24, 2026 and bottomed near USD 79,146, its lowest in more than a month. One 24-hour estimate counted USD 810 million of forced closures; another measured USD 834 million.

Long traders lost about USD 404 million within four hours. Bitcoin had closed Friday, October 23 around USD 81,230 with little change, then recovered toward USD 80,800. IBIT itself lost USD 110.34 million on Friday, the greatest outflow among spot bitcoin funds that day. Saturday's trough was about 37% below the October 2025 record near USD 126,000.

Why Can Forced Futures Selling Accelerate a Spot Decline?

A leveraged futures position is liquidated when losses exhaust the trader's required margin. Stop orders and margin calls often gather around round prices such as USD 80,000, so one break can force more sales until excess leverage clears.

IBIT does not borrow within the fund, but its underlying holdings still reflect price changes created by derivatives selling. Timing adds risk because bitcoin never closes while the fund observes US trading hours. Oil above USD 100 and December-hike odds between 71% and 80% supplied macro pressure following the Wednesday, September 16 Fed rate increase.

Where Could the Next Wave of Pressure Emerge?

Technical reference levels include the 100-day average around USD 77,500 and the 200-day measure near USD 76,200. A deeper decline toward either could invite additional selling, though moving averages do not assure support.

Flows are another vulnerability after spot funds shed about USD 773 million on Thursday and Friday. A hawkish message from Kevin Warsh could further increase the opportunity cost of an asset without a yield.

What to Watch Next: Will October 28 and 29 Stabilise Bitcoin?

The Fed decision and press conference take place Wednesday, October 28. Thursday, October 29 brings PCE and third-quarter GDP. Coinbase Global (NASDAQ:COIN) reports that day, as does Strategy (NASDAQ:MSTR), before the Tuesday, November 3, 2026 midterms.

Holding USD 80,000 after liquidations exceeded USD 810 million would suggest much of the forced selling has cleared, but daily fund flows remain important. Crypto assets can move sharply. This is not investment advice.

The distinction between the fund and the underlying market is central. IBIT does not need to trade on Saturday for the value of its bitcoin to change, and it cannot provide a real-time US share price while exchanges are closed. Monday's opening level therefore reflects both the weekend decline and any recovery before the bell. Separately, redemptions affect the number of shares and bitcoin held, whereas futures liquidations originate outside the fund. Both can pressure spot value, but they arise through different mechanisms. A narrowing gap after trading resumes would show that the recovery, rather than the low itself, dominated the opening adjustment. Friday ended near USD 81,230. The earlier record was around USD 126,000 and the 200-day reference near USD 76,200, with October 26, 2026 providing the next weekday test. Weekend trading can move bitcoin while the fund is closed, leaving Monday's share-price adjustment to reflect both the decline and any recovery.