Crypto Market Slides: Why Bitcoin Is Down 4.2 Percent

Outflows from the US spot ETFs on bitcoin and ether, forced closures of long positions worth more than $651 million and a central bank minutes pointing to a further rate rise: these three documented reasons have pulled the crypto market lower since Tuesday. Bitcoin fell 4.2 percent within 24 hours from its high of $86,592 on Tuesday afternoon, October 6, 2026, to $82,952. Ether lost 6.3 percent from high to low on Wednesday evening and XRP 7.1 percent, each measured against CoinGecko hourly prices.

Little had changed by Thursday morning. Bitcoin costs $83,401, which is 2.4 percent less than 24 hours earlier, ether $2,582 (down 4.1 percent), XRP $1.43 (down 4.6 percent) and solana $116.63 (down 3.1 percent). A crash it is not: over seven days bitcoin is only 0.25 percent lower, so the price has slipped back to where it stood the previous week. The market capitalisation of all cryptocurrencies stands at $2.85 trillion according to CoinGecko.

Crypto Market in the Red: Eight of the Ten Largest Coins Are Falling

The decline is broad. Of the ten largest cryptocurrencies excluding stablecoins, eight are lower over 24 hours on Thursday morning. The heaviest losses are XRP at 4.6 percent, dogecoin at 4.5 and ether at 4.1 percent, followed by hyperliquid at 3.7 and solana at 3.1 percent. Bitcoin and zcash each give up 2.4 percent. Almost unchanged are only BNB, down 0.5 percent, along with tron and monero, which edge higher.