Despite market concerns regarding the anniversary of the October 10, 2025, liquidation event, crypto traders increased their use of borrowed capital leading up to the date. Data from CryptoQuant shows the Estimated Leverage Ratio rose from approximately 0.234 on October 3 to roughly 0.256 by October 8, indicating higher borrowing levels.
The market experienced significant volatility as Bitcoin dropped to $80 393. This price movement triggered over $1 billion in forced liquidations within a 24-hour period, with approximately $930 million stemming from long positions. Total open interest also decreased from about $154 billion to roughly $142 billion, according to CoinGlass.
Current funding rates remain well below the levels observed during the 2025 crash. Deribit reported an annualized Bitcoin funding rate of near 7.1%, compared to 26.9% previously, while OKX data shows a seven-day average of about 3.5%. The Fear and Greed Index currently reflects a sentiment score of 59 to 64, categorized as greed.
Bitcoin is currently trading at $82 699, representing a 0.14% increase over 24 hours. The asset remains approximately 35% below its October 2025 peak of nearly $126 000. Market analysts from Glassnode indicate that the next significant cluster of leveraged positions is concentrated near the $75 000 price level.
