USDC
−0.0%Bitcoin falls below $84,000 as 20-minute drop liquidates over $400 million in longs
Image: Bitcoin.com NewsBitcoin fell below $84,000 in a roughly 20-minute move early on Oct. 7, dropping by about $2,000 in that window. More than 100,000 traders were liquidated in 24 hours, with long positions taking most of the damage. Ether fell below $2,600, down roughly 4%. XRP, DOGE and other large assets also declined. Four newly created wallets deposited $1 million USDC into Hyperliquid and opened short positions on 148.49 BTC shortly before the drop.
Key points
- Four newly created wallets shorted 148.49 BTC worth about $12.5 million just before the drop.
- XRP, DOGE and other large assets also declined.
Why it matters
Losses concentrated in leveraged long positions, and the decline spread to ether and other large assets during the same period. Traders holding long positions in major tokens were affected.
What's unclear
Reports differ on the size of the bitcoin drop, citing about $2,000 and about $1,765.
Whether the pre-drop short positions or the US government's bitcoin transfer caused the fall is unproven.
Price context · BTC
At publication
$84,245.00
Now
$84,201.00
Change since
−0.05%
7 days · dashed line = publication
Sources · 2 publishers
Bitcoin.com News
Tier 2
Bitcoin Price Slips Below $84K as 20-Minute Flush Erases $400M in Longs
Coverage timeline
- First reported by CryptoPotato
- Confirmed by Bitcoin.com News
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
