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News · Oct 9, 2026 · 4 min read

Bitcoin today: oil and Fed hike bets push bitcoin under $81,000, and ETFs lose $487 million

Bitcoin touched $80,507 on 8 October as oil climbed to about $105 and futures priced an 85% chance of another Fed rise by December. Bitcoin longs lost about $270 million, and the US spot ETFs had their heaviest outflow since 25 June.

Firsthand card: "Bitcoin today: oil and Fed hike bets push bitcoin under $81,000, and ETFs lose $487 million"

Bitcoin touched $80,507 as oil rose to about $105

Bitcoin fell to an intraday low of $80,507 on Thursday 8 October after shedding more than $1,500 in an hour, Bitcoin.com News reported. It cited reports of fresh attacks on shipping in the Strait of Hormuz and of the US weighing renewed strikes on Iran, which took Brent crude to about $105 a barrel.

CryptoSlate put Brent at $104.87 and the 10-year Treasury yield at 5.305% the same day. On our price series bitcoin read $81,673 this morning, 4.8% below its $85,771 close on 6 October.

Brent crude at about $105 a barrel, the 10-year at 5.3%, and bitcoin under $81,000.

Chart: Bitcoin's daily price since 15 September. The 9 October reading is the morning's, not a close. Open the chart

Bitcoin longs lost about $270 million, the most since June

Coinglass counted $1.14 billion of liquidations across crypto in 24 hours, led by $333 million in ether positions, according to the same Bitcoin.com report. Bitcoin longs accounted for about $270 million.

On our liquidations chart bitcoin longs force-closed on 8 October came to $272.4 million against $31.5 million of shorts. It is the largest day for longs since 25 June, when $337.9 million closed.

Leverage was not stretched going in. Our funding chart had longs paying shorts about 5.9% a year on 8 October, and futures open interest was $32.7 billion, the same as the day before.

Chart: Bitcoin futures positions force-closed each day: shorts above the line, longs below. The 8 October bar is the biggest for longs since late June. Open the chart

The ETFs had their heaviest outflow since 25 June

The US spot bitcoin ETFs lost $487.07 million on Wednesday 7 October, their heaviest day since 25 June, Bitcoin.com News reported, citing SoSoValue. BlackRock's IBIT lost $207.67 million, Fidelity's FBTC $105.15 million and ARK 21Shares' ARKB $101.71 million. All seven funds with a move saw money leave.

Our ETF flows chart has the same day at $487.1 million out. It turns October negative: the funds have lost about $166 million this month, after $2.65 billion came in over September in the same series.

Chart: Net flow into the US spot bitcoin ETFs every trading day since mid-August. The 7 October bar is the biggest red one since June. Open the chart

Futures put an 85% chance on another Fed rise by December

The Fed's September minutes, published on 7 October, say the committee raised its target range to 3¾ to 4% and that most participants saw another increase as likely to be appropriate by year end. Their examples of price pressure included crude oil and refined fuel, pushed up by geopolitical developments.

CryptoSlate reported futures pricing at an 85% chance of at least one rise by December. Markets expect a hold on 27 and 28 October, and September CPI is due on 14 October.

Standard Chartered plans digital asset custody in Singapore

The bank said it plans to launch custody for institutional clients in Singapore, covering select cryptocurrencies, stablecoins and tokenised real-world assets, Cointelegraph reported. The service is for institutions and accredited corporate clients, subject to regulatory requirements.

No launch date or list of supported coins was given. The bank already runs digital asset custody in the UAE, Luxembourg and Hong Kong.

A $1 billion sale of seized bitcoin is a claim, not a fact

Posts on Thursday said the US government had moved more than $1 billion of bitcoin seized in the Bitfinex hack. Bitcoin.com reported that analysts saw no evidence any of it had been sold.

The transfer we could confirm was 264.863 bitcoin, about $22.9 million, sent to Coinbase on 6 October, Crypto Briefing reported. A 2025 court ruling requires the coins to be returned to Bitfinex in kind, not sold. We covered Wednesday's larger move to Coinbase Prime in yesterday's recap.

What it means for miners

A fall driven by oil and yields changes what a coin sells for. It does not change how many a machine mines. Hashprice is still about 0.000477 bitcoin per petahash a day, and at this morning's price that is $38.94, from $40.85 on 6 October.

Our difficulty page estimates the next adjustment, in about eight days, at +4.3%, which would trim the coins a petahash earns by about 4%.

On today's hashprice the most efficient machine in stock on our cheapest power, the Bitmain Antminer S23 XP Hyd at 8.9 J/TH in Nigeria at 3.9¢ a kilowatt-hour, makes a coin for about $17,900 of electricity, against $81,673 to buy one. A day that clears longs is a day to keep the coins you mine. Output is never guaranteed.

A coin made for about $17,900 of electricity, against $81,673 to buy one.

Sources and further reading

Disclosure

Firsthand Bitcoin sells and hosts mining hardware, including this machine. No manufacturer, distributor or affiliate programme paid for or reviewed this page and we take no commission on the links above. Historical figures are computed from daily bitcoin price and network hashprice, each day valued at its own prices. Nothing here is investment advice.