Bitcoin price fell below $82,700 on Monday, marking its lowest level since September 21. This decline followed a weekly close of approximately $84,450, failing to retest the eight-month highs of over $87,000 recorded last week.
Market data indicates that over $30 million in ask liquidity appeared near the $85,700 price level. This concentration of liquidity prevented a move toward the 2026 year-open level of $88,700. Large traders often use such positioning to influence market direction.
The downward movement led to the liquidation of approximately $70 million in long positions over a 24-hour period. Bitcoin weakness coincided with a 0.9% drop in Nasdaq futures and a rise in WTI crude oil prices above $95 per barrel.
Political uncertainty contributed to the market sentiment, as US President Donald Trump declined to rule out potential military strikes on Iran. Trader Aksel Kibar noted that the recent price action lacked the characteristics of a decisive breakout.
