Bitcoin fell below $82,000 on Monday, extending a decline that prompted significant losses for leveraged traders. According to Coinglass data, $488.61 million in crypto positions were liquidated over 24 hours, affecting 118,142 traders. Long positions accounted for $406.48 million—or 83.2% of total liquidations—while short positions contributed $82.14 million.
The largest individual liquidation was a $9.65 million bitcoin long position on Binance at $81,772. Ethereum led other assets with $115.19 million in liquidations, followed by bitcoin at $106.61 million. Solana contributed $26.97 million in liquidations, while zcash and NEAR recorded approximately $19.86 million and $19.81 million respectively. Binance accounted for 52.3% of total liquidations.
Pressures Behind Bitcoin's Retreat
Bitcoin's decline below $82,000 reflects multiple overlapping factors. U.S. spot bitcoin exchange-traded funds recorded net outflows of approximately $679 million to $681 million during the October 5-9 trading week, reducing institutional demand. The benchmark 10-year U.S. Treasury yield climbed toward 5.24% to 5.3%, making interest-bearing assets more attractive relative to bitcoin.
Elevated crude oil prices, partly fueled by Middle East tensions, have complicated the inflation outlook and weighed on risk appetite. Bitcoin's repeated failure to reclaim the $84,000 to $87,000 range has shifted focus toward support levels between $81,000 and $82,000. Investors are awaiting Wednesday's consumer price index report and Thursday's producer price data, which could determine whether the decline remains contained or develops into a deeper correction.
Broader Market Declines
Other major cryptocurrencies also retreated. Ethereum traded near $2,461, down 2.79% over 24 hours and 9.34% over seven days. Solana declined to around $106.16, losing 4.39% daily and 12.09% weekly. XRP fell 4.33% to $1.34, while Dogecoin slipped 4.02% to approximately $0.08311. Hyperliquid and zcash experienced steeper daily declines of 5.44% and 5.82% respectively.
