Bitcoin Drops Below $82,000 as Crypto Liquidations Surge Past $770 Million
Bitcoin (BTC) dropped 2.8% over 24 hours to $81,382 on Monday evening, falling from around $84,200 earlier in the day. The pullback hit the broader digital asset market, with Ethereum (ETH) falling 4.6% to $2,425, Solana declining 7.5%, and XRP sliding 6.4%. The downturn sparked $771 million in total crypto liquidations over 24 hours, including $685.6 million in bullish long positions forced shut.
The selling pressure reflects a combination of macroeconomic headwinds, rising U.S. Treasury yields, a stronger dollar, and softening institutional demand ahead of upcoming U.S. inflation data. Investors withdrew $681.1 million from U.S. spot Bitcoin ETFs and $542 million from spot Ethereum ETFs last week. Additional pressure spilled over from Asian stock markets, where South Korea's Kospi index dropped 6.1% on Tuesday morning.
Market participants are watching key support zones as risk appetite recalibrates across global markets. Despite the downturn, selective corporate accumulation continued. Strategy added 250 BTC for approximately $21.5 million between Oct. 5 and Oct. 11, while Bitmine Immersion Technologies acquired 12,532 ETH over the past week to bring its total Ethereum treasury to over 6 million tokens.
Key points
- Bitcoin (BTC) dropped 2.8% to $81,382 on Monday evening, pulling back from around $84,200 earlier in the day.
- Forced liquidations in the crypto market reached $771 million over 24 hours, with long positions accounting for $685.6 million.
- U.S. spot Bitcoin ETFs saw weekly net outflows of $681.1 million, while spot Ethereum ETFs lost $542 million.
- Strategy purchased 250 BTC for $21.5 million between Oct. 5 and Oct. 11, while Bitmine Immersion Technologies added 12,532 ETH to its holdings.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
Why did Bitcoin fall below $82,000?
Bitcoin fell due to macroeconomic headwinds, rising Treasury yields, a stronger dollar, and over $681 million in weekly spot ETF outflows ahead of key U.S. inflation data.
How much was liquidated in the crypto sell-off?
Over 24 hours, crypto liquidations reached $771 million, with bullish long positions making up $685.6 million of the total.
Are corporate buyers still acquiring Bitcoin and Ethereum?
Yes. Strategy acquired 250 BTC for $21.5 million between Oct. 5 and Oct. 11, while Bitmine Immersion Technologies added 12,532 ETH to its treasury over the past week.