On October 8, 2026, Bitcoin dropped below $81,000 for the first time since mid-September. The intraday low reached between $80,350 and $80,500. This movement triggered liquidations of leveraged crypto positions totaling between $480 million and $489 million within a single hour.
Over a 24-hour period, total liquidations exceeded $1 billion, with long positions accounting for approximately $930 million to $1.05 billion. Ethereum experienced significant impact, with liquidations ranging from $294 million to $333 million, alongside declines in XRP, Solana, and Dogecoin.
Market pressure was driven by several factors, including the 10-year Treasury yield rising to 5.31% and Brent crude oil prices climbing to $105. Additionally, US spot Bitcoin ETFs saw outflows of hundreds of millions of dollars, while government-controlled addresses transferred between 3,200 and 12,267 BTC.
Analysts noted that elevated open interest and thin liquidity contributed to the volatility. While the daily liquidation volume surpassed $1 billion, it remains below the record of $19 billion set in October 2025.
