CRYPTO LONGS LOSE $404 MILLION IN FOUR HOURS AS BITCOIN BRIEFLY SLIPS BELOW $80,000

Summary from the TLDR Crypto newsletter

Bitcoin briefly fell below $80,000 Saturday morning, triggering $404M in long liquidations over four hours, the largest such figure since October 14, as cascading stops swept $815M in total liquidations across 24 hours and affected 201,012 traders. Ether absorbed $136.72M in liquidations during that window, closing in on bitcoin's $158.45M despite ETH representing about 18% of BTC's market cap, with longs accounting for over 92% of forced exits on both assets. Spot bitcoin ETFs closed the week with $304.73M in net inflows despite Friday's $137.94M outflow led by BlackRock's IBIT, while spot ether ETFs posted $220.60M in weekly net outflows and have shed $1.175B across 14 of 17 October trading sessions. Arthur Hayes closed Maelstrom's directional book, exiting ETH, ENA, and UNI, citing deteriorating macro conditions and elevated geopolitical risk tied to Iranian threats against US embassy personnel in Jordan, Lebanon, Qatar, and the UAE.