On October 6, 2026, Bitcoin experienced a rapid decline, dropping nearly $2,000 within 20 minutes. The price fell by more than 5% intraday, moving from approximately $71,765 to $67,895, marking its lowest level since April.
According to Coinglass, total liquidations reached approximately $394 million within a single hour, with $384 million originating from long positions. Over a 24-hour period, total market liquidations climbed to about $1.02 billion.
Bitcoin traders faced the highest impact with $209 million in liquidations. Other assets also saw significant losses: Ethereum recorded $87 million, Solana $27 million, and XRP $11 million in liquidated positions.
The market downturn was exacerbated by a sale from Strategy, formerly known as MicroStrategy. The company sold 32 BTC, valued at approximately $2.5 million, to fund dividend payments.
Analysts attributed the broader market pressure to several macroeconomic factors, including a shift of capital toward AI-focused equities, strong labor market data, rising energy costs, and reduced expectations for near-term interest rate cuts by the Federal Reserve.
