Bitcoin Drops Below $84,000 Amid $487M Long Liquidations

Key Facts

1Bitcoin price fell from $85,300 to $83,550 within 15 minutes due to the unwinding of leveraged long positions.

2Total crypto liquidations reached $555.6 million over 24 hours, with leveraged longs accounting for $487.2 million.

Bitcoin price fell from $85,300 to $83,550 within 15 minutes due to the unwinding of leveraged long positions. Reuters reported that the rapid decline was triggered by a wave of liquidations that affected the broader digital asset market.

Total crypto liquidations reached $555.6 million over 24 hours, with leveraged longs accounting for $487.2 million of the total according to CoinGlass. This price action reflects significant short-term volatility and pressure from leveraged outflows as the market breached the $84,000 level on October 8, 2026.