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Bitcoin Breaches $82,000 in Biggest Decline in Over a Month
Bitcoin retreated below $82,000 Thursday, as renewed pressure across global markets weighed on cryptocurrencies, erasing gains from earlier in the week.
The original cryptocurrency fell as much as 4.5% and was trading around $81,300. Smaller tokens Ether, Solana and XRP also fell roughly 4% to 5.5%.
The declines came as escalating concern about the Mideast conflict pushed oil futures higher, spurring inflation fears with US midterm elections less than two weeks away. Selling was concentrated in technology megacaps, with the Nasdaq 100 Index sliding more than 3%.
Trump, Crypto Firm Sued for Profiting Off Foreign Government
Donald Trump and World Liberty Financial, the cryptocurrency venture he co-founded with his sons, were sued by a shareholder in a rival crypto firm over claims the president illegally profited from his office in violation of the US Constitution.
J. Benjamin Greenberg, a shareholder in Circle Internet Group Inc., claims illegal competition from World Liberty has harmed him and other Circle investors financially.
The suit claims Trump violated the Foreign Emoluments Clause, a provision of the US Constitution that bars presidents from taking payments from foreign governments without the approval of Congress, in two World Liberty transactions with the United Arab Emirates.
Regulatory Measures Partially Offset the Impact of the CLARITY Act Not Advancing, but JPMorgan States Political and Legal Risks Remain
JPMorgan analyst Nikolaos Panigirtzoglou said in the report that recent actions taken by U.S. regulators have to some extent offset the negative impact from the Senate’s failure to advance the CLARITY Act, but political and legal risks still exist. Measures led by agencies such as the SEC, CFTC, and OCC can encourage institutional participation in the crypto ecosystem in the short term, but only legislation can make the regulatory framework more durable.
Before a comprehensive market-structure bill is passed, the political and legal risk premium will remain high; if the Democrats win the White House, current measures could be overturned as soon as within two years. Panigirtzoglou believes that it is unlikely that the CLARITY Act will pass this year and that it may be delayed until 2027. Currently crypto market sentiment remains relatively optimistic, and the market is focused on what measures the SEC, CFTC, and OCC will take to facilitate institutions entering the cryptocurrency space.
CZ: AI Does Not Need to Break Bitcoin Cryptography to Amplify Phishing and Social Engineering Risks Through Data Leaks
CZ said that the market is generally worried that $AI might attack crypto systems, but the internet and banking systems actually rely on weaker cryptographic technologies. CZ also pointed out that $AI does not need to truly break Bitcoin’s cryptographic system to cause harm; existing data breaches can already be used for larger-scale phishing, social engineering attacks, and other risk scenarios.
The UAE-Led 'Ghost Counteraction Operation' Has United 30 Countries to Combat Cross-Border Digital Fraud
On October 23, according to a release by the UAE Ministry of Interior via PR Newswire, the ministry led “Operation Confrontation Ghost.” Law enforcement agencies from 30 countries, Interpol, the Global Anti-Scam Alliance (GASA), and 13 companies including Meta, TikTok, Mastercard, Huawei, and Crypto.com participated. The operation was conducted from July 1, 2026 to September 30, 2026, targeting three types of crimes: AI-enabled scams, digital financial fraud, and technology-assisted extortion.
The operation identified over 15,500 victims and 3,500 suspects, arrested over 960 people, raided 29 scam centers, shut down over 570 social media accounts involved, and discovered over 4,126 bank accounts related to scams. Participants exchanged over 9,000 pieces of intelligence and identified more than $39 billion in funds and crypto assets related to scams. That amount is not the total recovered; recovery efforts are still ongoing.
Bitcoin Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Thursday was $635.49 million. The total net asset value of Bitcoin spot ETFs is $104.71 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.41%.
Source: SoSoValue
The Bitcoin spot ETF with the highest net outflow on October 22 was iShares Bitcoin Trust, with a net outflow of $254.05 million, according to SoSoValue.
Source: SoSoValue
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