Bitcoin (BTC), the world’s oldest and most valued crypto, continued on a downward spiral and dipped below the $86,000 mark early Friday. The latest dip, according to experts, is primarily driven by a higher-than-expected unemployment rate seen in the US September jobs data, as well as other macroeconomic uncertainty plaguing the market. Other popular altcoins — including the likes of Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the red across the board, as the overall Market Fear & Greed Index stood at 11 (Extreme Fear) out of 100, as per CoinMarketCap data. The AB token became the biggest gainer of the lot, with a 24-hour jump of nearly 1 percent. Telcoin (TEL) became the biggest loser, with a 24-hour dip of over 18 percent.
The global crypto market cap stood at $2.94 trillion at the time of writing, registering a 24-hour loss of 6.50 percent.
Bitcoin price stood at $85,523.03, registering a 24-hour dip of 7.44 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 80.44 lakh.
ETH price stood at $2,787.58, marking a 24-hour loss of 7.89 percent at the time of writing. Ethereum price in India stood at Rs 3.71 lakh.
DOGE registered a 24-hour dip of 7.58 percent, as per CoinMarketCap data, currently priced at $0.1462. Dogecoin price in India stood at Rs 18.25.
Litecoin saw a 24-hour loss of 6.68 percent. At the time of writing, it was trading at $86.80. LTC price in India stood at Rs 8,844.67.
XRP price stood at $1.96, seeing a 24-hour dip of 8.05 percent. Ripple price in India stood at Rs 232.74.
Solana price stood at $130.90, marking a 24-hour loss of 8.76 percent. SOL price in India stood at Rs 17,927.38.
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Edul Patel, CEO and co-founder, Mudrex, told ABP Live, “The crypto market is consolidating with Bitcoin trading near $86,500 as macroeconomic uncertainty increases in the US. The September jobs data showed a higher-than-expected unemployment rate at 4.4%, influencing the rate cut decision. At the same time, the absence of October data has created an information gap, prompting traders to turn cautious. Additionally, a Bitcoin whale selling 11,000 Bitcoins has also impacted the sentiment, further contributing to the downward momentum. Buyers now need to defend the $84,500 support to prevent a deeper move toward $80,000, while $91,000 remains the key resistance.”
Ashish Singhal, Co-founder, CoinSwitch, noted, “Bitcoin retreated to the $85,000 level after briefly climbing to $92,000 following Nvidia’s earnings results. This pullback has largely been driven by growing macroeconomic uncertainty in the US. September’s jobs data revealed higher-than-expected unemployment, raising concerns over the strength of the broader economy and potentially influencing the Federal Reserve’s stance on future rate cuts. Investors are advised to exercise caution and avoid making aggressive, emotion-driven decisions. A measured approach, focused on risk management and long-term strategy, remains critical as markets react to ongoing economic signals. The key psychological level to watch is $80,000. Historically, strong support zones tend to attract buying interest.”
Vikram Subburaj, CEO, Giottus, said, “Bitcoin extended its decline to new cycle lows near $86,000. This marks the most bearish setup of the 2023-25 run as institutional participation wanes and key technical signals turn negative. CryptoQuant’s bull-score index has dropped to 20/100 while spot prices trade well below the 365-day moving average (~$102K), a zone that historically marked bear-market entries. ETF flows remain negative for a fifth straight week (-$3.3B month-to-date), and even corporate buyers such as MicroStrategy and Metaplanet have slowed accumulation.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “The recent sell off of some 11,000 BTC, roughly 1.3 billion dollars, by an OG whale signals a meaningful shift in sentiment within the Bitcoin ecosystem. Large scale liquidations do not decide the long term trajectory on their own, but they do raise a yellow flag. A holder with more than a decade of accumulation choosing to exit now increases market pressure and draws attention to potential liquidity stress.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin, currently around $85,700, is consolidating after a sharp drop from its $93,000 intraday high. Macro trends — post-halving supply tightening, steady ETF inflows, and improving global liquidity — support long-term strength. Micro trends show rising long-term holder accumulation, declining exchange reserves, and stable network activity. Price action sits near key support; holding above $85K-$86K could spark a rebound toward $90K+. Losing this zone may trigger a slide toward $82K-$84K. Overall structure remains bullish, but short-term movements depend on liquidity and derivatives positioning.”
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