Bitcoin Rebounds to $82,600 After Liquidations and ETF Outflows Trigger Drop to $80,000
A wave of market liquidations and macroeconomic pressures briefly pushed Bitcoin down to $80,400 before prices recovered above $82,000.
Bitcoin fell to approximately $80,400 on October 8 before rebounding to trade around $82,600 the following day. The asset shed about 7% in 48 hours from an earlier level near $86,600, leaving it down 4.1% over the week and roughly 35% below its all-time peak of $126,080.
The sudden drop was largely driven by the liquidation of over $1.1 billion in leveraged positions across the crypto market on October 8, including $1.04 billion in long positions. In addition, CryptoQuant reported that investors locked in profits by selling around 25,700 BTC, worth roughly $2.2 billion, during the preceding week. U.S. spot Bitcoin ETFs recorded net outflows of approximately $485 million on October 7 amid rising Treasury yields and dollar strength.
The market began recovering as broader geopolitical tensions eased. Bitcoin reclaimed the $82,000 mark following lower oil prices and statements from President Trump indicating that the United States would not conduct strikes against Iran prior to the midterm elections.
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