Bitcoin Falls Below $81K Amid $485 Million in Liquidations

On October 8, 2026, Bitcoin experienced a notable decline, falling below the $81,000 mark for the first time since mid-September. This drop resulted in over $485 million in liquidations within a single hour, predominantly affecting long positions.

The intraday low for Bitcoin was recorded between $80,350 and $80,500. The total liquidations across the entire 24-hour period exceeded $1 billion, with long positions accounting for approximately $930 million to $1.05 billion of that total. Ethereum also faced significant liquidations, ranging from $294 million to $333 million, often surpassing Bitcoin's liquidation figures.

Several factors contributed to this market pressure. The 10-year Treasury yield rose to 5.31%, coinciding with Bitcoin's decline, while Brent crude oil prices surged to $105 amid escalating geopolitical tensions in the Middle East. Additionally, outflows from US spot Bitcoin ETFs reached hundreds of millions of dollars. Notably, US government-controlled addresses transferred between 3,200 and 12,267 BTC, linked to past hacks and exchange collapses, valued at several hundred million to over $1 billion.

Analysts pointed to elevated open interest and thin liquidity as amplifiers of the decline, which reversed some of Bitcoin's recent gains following a surge that began on September 21. While daily liquidations exceeding $1 billion are significant, they do not set a record; that distinction belongs to the $19 billion liquidation event in October 2025.

New Facts on Crypto Liquidations

• Over the past 24 hours, $942.1 million in leveraged positions were liquidated, with long positions accounting for $863.3 million (91.6% of the total).
• The total crypto market capitalization fell by 4.96% to $2.76 trillion.
• Ethereum (ETH) experienced a 5.31% drop, reaching $2,373.87, marking the steepest decline among the top five cryptocurrencies.
• Bitcoin (BTC) decreased by 2.54% to $81,328, with $196 million in liquidations, of which approximately $176 million came from long positions.
• In a single hour, Coinglass recorded $489.4 million in liquidations, which is more than half of the total for the 24-hour period.
• Binance accounted for 53.7% of all liquidations, including the largest single order of $12.03 million for a BTCUSDT long position closed at $80,208.96.
• Liquidations also affected traditional assets, with $22.1 million in silver and $13.3 million in gold positions liquidated.
• Asian equity markets also faced declines, with South Korea’s KOSPI dropping 7.85% and Japan’s Nikkei 225 falling 4.81%.
• The Consumer Price Index (CPI) rose to 3.7% for the year ending September, up from 3.4% in August, influencing market reactions.

Market Update: Liquidations Surge

In the past 24 hours, over $876 million in long crypto positions were liquidated, marking a significant downturn in the market. This event occurred on October 15, 2026, primarily affecting leveraged bulls, while short sellers remained relatively unscathed.

Liquidations were heavily skewed towards long positions, with estimates indicating that they accounted for between 88% and 92% of all liquidations. Ethereum experienced the largest hit by notional value, with liquidations ranging from $149 million to $265 million, while Bitcoin saw liquidations between $101 million and $212 million.

The largest single liquidation was a $25.83 million BTC-USDT long on Hyperliquid. Binance was responsible for a significant portion of the liquidations, handling approximately 40% to 57% of the total volume.

This liquidation event is part of a broader trend observed throughout 2026, where similar patterns of forced selling have occurred alongside notable market price drops. Analysts attribute this latest event to a combination of general price weakness and an over-leveraged market, rather than any specific macroeconomic or regulatory triggers.