$79,464. That's where bitcoin was quoted on October 24, its lowest since September 18, according to later reporting, and it tells me the…

$79,464. That's where bitcoin was quoted on October 24, its lowest since September 18, according to later reporting, and it tells me the people getting hit hardest right now are anyone who bought the digital gold pitch as a war hedge. When the Mideast heats up, BTC is trading like a risk asset.

• CoinDesk had BTC at $79,700 on October 24, after the WSJ reported the U.S. was quickly evacuating personnel from embassies and military bases amid intelligence of possible Iranian attacks.
• Brent traded around $117 in Friday's (October 23) U.S. session. Oil is doing the hedging job, which keeps my bearish oil view under pressure.
• Trump told a Florida rally on Friday the U.S. might do another "little Epic Fury" after the midterms in early November. That points to a later move rather than an imminent strike.
• Iran's IRGC claims two tankers carrying more than 4.5 million barrels hit mines in Hormuz. The vessels haven't been identified, and nobody has independently confirmed it yet.

I'm still bullish on BTC long term, and a weekend slide on headlines looks like a level for patient money to watch, not a broken thesis. I could be wrong, though: if that mine claim gets verified, a scare becomes a supply shock and I'd expect risk assets to take another leg down.

Sources:
CoinDesk: https://www.coindesk.com/markets/2026/10/24/crypto-under-weekend-pressure-bitcoin-slides-below-usd80-000-on-u-s-middle-east-evacuations
TokenPost: https://www.tokenpost.com/news/investing/40105

Not financial advice. For informational and educational purposes only.