Bitcoin fell below $80,000 as tech sector risk aversion weighed on crypto

The move followed declines in major technology stocks, with Samsung leading losses, while a hawkish Federal Reserve stance added pressure to digital assets.

Bitcoin dropped below the $80,000 mark as of 29 October, reflecting a 1.56% decline over the trading session, according to CoinDesk. The move in bitcoin coincided with a broader pullback in the technology sector, where risk aversion was led by Samsung, and was compounded by a hawkish tone from the U.S. Federal Reserve. The shift in sentiment impacted not only bitcoin but also other major cryptocurrencies and digital asset indices.

The CoinDesk 20 Index, which tracks a basket of leading digital assets, fell 1.88% to $2,191.40 on the same day. Ethereum, the second-largest cryptocurrency by market capitalisation, recorded a 2.28% drop to $2,303.61. Other notable tokens, including XRP and Solana, also posted declines, with XRP down 3.38% to $1.29 and Solana falling 2.31% to $99.52. The negative momentum extended to Hyperliquid, which dropped 3.91% to $78.21, and Tron, which edged 0.16% lower to $0.33.

The weakness in digital assets followed significant losses in technology equities, with Samsung’s performance cited as a key driver of risk aversion in the sector. The broader market context was further shaped by the U.S. Federal Reserve’s hawkish policy stance, which has contributed to tightening financial conditions and weighed on risk assets, including cryptocurrencies. The combination of these factors resulted in a challenging environment for digital asset prices.

As the market digested these developments, trading volumes and sentiment across major cryptocurrencies reflected the cautious tone. The declines in both bitcoin and altcoins underscored the sensitivity of digital assets to macroeconomic signals and sector-specific developments, particularly in technology. Market participants continued to monitor central bank policy and sector performance for further direction.

Source: https://www.coindesk.com/markets/2026/10/29/bitcoin-dips-below-usd80-000-as-samsung-led-risk-aversion-in-tech-and-a-hawkish-fed-weigh-on-crypto