Bitcoin Closes at $79,716.57 on Oct. 24 After Trading Above $80,000
Key Facts
Bitcoin closed at $79,716.57 on Oct. 24, 2026, ending below $80,000, according to EL7 data. The cryptocurrency had closed at $81,189.43 the previous day, putting Saturday’s close below the prior session’s level. Reports of U.S. evacuations in the Middle East, or any link to the price move, could not be verified. The close follows a report published by Investing.com on Oct. 23, which described caution in risk markets amid pressure on technology stocks and oil.
In the report published on Oct. 23, Bitcoin was trading near $81,970, up 0.3% at 09:49 Eastern time. The report said the cryptocurrency had remained in a range between $80,000 and $87,000 during the previous month. EL7’s recorded close on Oct. 24 puts the price below the range’s lower bound, but a comparison of the two closes alone does not establish the intraday trading path or the cryptocurrency’s low for the session. The report had said risk appetite had weakened from technology stocks to cryptocurrencies. It linked this to growing concerns about higher interest rates and the long-term sustainability of artificial intelligence companies’ valuations.
Spot Bitcoin fund flows painted a different picture from the price action, with inflows of $442.7 million in the week ended Oct. 22, according to SoSoValue data cited in the report. Even so, the report said the inflows had not provided strong support for the price. This means money flowed into the funds that week as markets remained cautious, without preventing Bitcoin from trading near $81,970 on Oct. 23. The report gave no figure comparing the inflows with net flows in a previous week. These figures preceded EL7’s recorded close below $80,000 the following day.
Oil was one source of pressure cited in the report, with crude reaching its highest level in more than five months on Friday, Oct. 23, amid continuing tensions in the Middle East. In energy-market details, Brent crude rose 3.1% to $116.72 a barrel at settlement that day, according to the Associated Press. The price was below $97 a barrel at the start of October, while the agency described it as the highest since June 2022. Investing.com’s report linked crude’s rise to regional tensions and reports that a resumption of U.S. and Israeli hostilities against Iran was likely in November. The report did not establish that this factor alone caused Bitcoin’s decline, but included it as part of a broader risk-off environment.
The backdrop of maritime tensions included reports of damage to tankers in the Strait of Hormuz; Iran said 7 oil tankers caught fire or were damaged overnight between Oct. 21 and 22. The Associated Press reported that the tankers had been hit by Iranian strikes or struck naval mines, according to Iran’s account. The agency also cited the UK Maritime Trade Operations, saying October had seen the highest number of reported attacks on commercial shipping since the first weeks of the war in March. This context kept energy and shipping risks in focus in market coverage as oil rose. But the available evidence does not directly link these events to Bitcoin’s close on Oct. 24.
Major central bank meetings and earnings from large technology companies were among the events expected in the week following the Oct. 23 report. The report said anticipation of these events added to market caution. These dates place Bitcoin’s price action in the context of a week marked by concerns about interest rates and artificial intelligence company valuations, alongside rising oil prices and regional tensions. The report did not name the banks or companies, or give the dates of the meetings and earnings announcements. The latest price level in the EL7 data cited here remains the Oct. 24 close at $79,716.57.