Between October 6 and October 8, 2026, the cryptocurrency market experienced a significant wave of liquidations. More than 14,505 BTC in leveraged long positions were wiped out, with a total value estimated at approximately $1.17 billion.
The market volatility was triggered as Bitcoin fell below the $84,000 threshold. On October 6, the price dropped from roughly $85,500 to near $83,800 within a 15-minute window, resulting in $400 million in liquidations in just one hour.
Data from trackers like CoinGlass and ByKaranteli show that long positions accounted for over 90% of total liquidations. More than 100,000 traders were affected by the market movement, with Binance, Hyperliquid, and Bybit serving as the primary venues.
Total liquidations across crypto derivatives reached between $696 million and $1.02 billion over various 24-hour periods. Despite the selloff, open interest remains around $150 billion, and funding rates continue to stay positive.
