Bitcoin slides as global markets sell off on AI and policy worries

What happened

Bitcoin extended losses as part of a broad market retreat that also pulled stocks and precious metals lower, according to Coinpedia. The outlet reported on Oct. 31, 2026, that bitcoin slipped to $77,328 while Wall Street recorded its steepest daily decline since June and gold fell to a one-year low. Silver also dropped below the $50 mark, Coinpedia said, underscoring that selling pressure was not confined to cryptocurrencies.

Coinpedia said the Nasdaq Composite fell 2.86%, the S&P 500 lost 1.82% and the Dow Jones Industrial Average declined 1.09%. In crypto, a security breach at Binance triggered widespread fear and pushed bitcoin to $76,400, the lowest level since Sept. 18, before the price recovered above $77,500. The report said bitcoin remained within an ascending parallel channel that has held since early 2026, but the pullback brought it closer to a key support zone.

The late-October decline followed an earlier crypto-specific sell-off. Bitcoin.com News reported on Oct. 8, 2026, that zcash fell about 16% to $1,115, wiping out gains since Sept. 16 and causing $38 million in leveraged long liquidations. Bitcoin and other high-cap altcoins lost between 3% and 7% at that time, while nearly $900 million in positions were liquidated across the broader market in 24 hours, according to Bitcoin.com News.

Why it matters

The synchronized move across bitcoin, equities, gold and silver matters because it points to fragile sentiment and broad risk aversion rather than weakness in a single asset class. Coinpedia said concerns about AI valuations were weighing on technology stocks, while crypto markets were dealing with the same risk-off mood. Even gold and silver, often treated as havens during uncertainty, failed to escape the selling. Coinpedia cautioned that the cross-asset decline does not by itself prove a larger market crisis, but said the next few trading sessions could clarify whether investors are regaining confidence.

What the data shows

Coinpedia put bitcoin at $77,328, with a low of $76,400 and a recovery above $77,500. It identified $74,336 as immediate support and said another weekly decline could expose the cryptocurrency to further losses. The report also noted that the RSI had fallen from a higher range to an average range, suggesting weaker buying pressure, while the MACD pointed to a possible bearish crossover. For gold, Coinpedia reported a 3.68% daily decline to $3,872.86, a break below the $3,930-$3,950 zone, and next levels at $3,824 and $3,457.49. Bitcoin.com News reported zcash at $1,115, down about 16% on the day, with $38 million in long liquidations and roughly $900 million in total crypto liquidations over 24 hours. It said bitcoin and other high-cap altcoins had losses of 3% to 7%, while monero was down about 4.5%.

Background

Coinpedia traced the backdrop to several pressures: after months of strong gains, questions about rising AI spending, stretched valuations and returns added uncertainty. Rising oil prices and renewed geopolitical tensions contributed to inflation worries, and the latest Federal Reserve policy did little to reduce uncertainty, with effects visible across global markets, gold and silver. In crypto, the Binance security breach added a sector-specific shock. Bitcoin.com News noted that zcash had been one of 2026's best-performing cryptocurrencies before its slide, with gains since the start of the year still above 120% even after the drop.

What is still unclear

Coinpedia framed the central question as whether the drop is a broad market correction or evidence of a deeper liquidity squeeze forcing investors to sell across asset classes. The reports do not settle that question, and they describe separate episodes: an early-October crypto sell-off led by zcash and a late-October cross-asset decline. Whether the same forces drove both moves is not established in the supplied reports.

What to watch

Coinpedia said bitcoin needs to defend its immediate support to help determine the next move, gold must reclaim the $3,930-$3,950 zone to ease bearish pressure, and Wall Street needs to show signs of stabilization. The outlet said the next few trading sessions could offer a better picture of where the market is heading. Until then, it warned, volatility may remain elevated.

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