Crypto markets declined on October 24, 2026, as geopolitical worries and macro events pressured prices, while activity on decentralized exchanges and interest in AI-focused crypto projects showed continued ecosystem development beyond headline volatility.
Bitcoin drop and market liquidations
Bitcoin fell below $80,000 on October 24, 2026, trading at roughly $79,280, its lowest level since September 18. Ethereum also weakened, dropping to $2,288.73, a low not seen in about two months. Data from CoinGlass showed heavy liquidations: $436.44 million of positions were wiped out within four hours, $404.15 million of which were long positions, and total liquidations over 24 hours reached $815.26 million. Observers linked the market move to reports that U.S. personnel were rapidly evacuated from embassies and bases in the Middle East after intelligence indicated possible preparations for Iranian attacks. Market attention was also focused on an upcoming Federal Reserve meeting scheduled for October 27-28 and the release of PCE inflation data on October 29.
Spot ETF flows add downward pressure
Spot Bitcoin ETFs recorded notable outflows in the days before the price drop: $635.49 million on October 22 and $137.94 million on October 23. Those withdrawals coincided with the broader risk-off tone in markets and likely contributed to the downward momentum in BTC prices during the period.
Uniswap sees surge in new wallets and TVL gains
Uniswap reported 2,295 new wallets in a single day, the highest daily figure since November 2022, according to Santiment data published on October 24, 2026. Santiment attributed the user growth to new features in Uniswap v4, expanded liquidity routing and development of the layer-2 network Unichain. Total value locked in v4 rose to about $1.44 billion, an increase of roughly 17% over the past month. Despite that on-chain activity, the UNI token has declined 25.75% over the last month and was trading at $6.93.
Argentine LIBRA case dismissed
On October 23, 2026, Argentine federal judge Marcelo Martínez de Giorgi cleared President Javier Milei, his sister Karina, Hayden Davis and eight others in a criminal case concerning promotion of the LIBRA token, finding no evidence of criminal fraud. Milei had posted about the token on February 14, 2025; the token’s market capitalization exceeded $4.5 billion before collapsing by about 95% within hours. Analysts cited in the reporting said eight wallets linked to the team cashed out $107 million. The decision followed a request by prosecutor Eduardo Taiano to shelve the case. Opposition figures alleged a cover-up, and some investors who were excluded from earlier proceedings are seeking reinstatement to file an appeal.
Grayscale spotlights three AI crypto projects
Grayscale’s head of research, Zach Pandl, highlighted three crypto projects focused on AI infrastructure in a note dated October 23, 2026: DATA Network (DATA), which provides licensed training data; USD.AI (CHIP), which facilitates GPU-collateralized loans; and Pearl (PEARL), which combines mining with provision of computing power for AI tasks. Token performance over the 90 days to October 24 varied: PEARL rose 528.24% to $2, CHIP climbed 47.98% to $0.04386, while DATA fell 42.07% to $0.15243. Pandl noted that their long-term significance will depend on adoption and competitive dynamics.
The day in brief
Tensions in the Middle East and upcoming U.S. macro events pushed major crypto prices lower and triggered large-scale liquidations of leveraged long positions. At the same time, continued product upgrades and layer-2 development supported user growth on Uniswap, and institutional research attention on AI-focused tokens highlighted evolving narratives in the sector beyond immediate price moves.