Bitcoin falls below $84,000 as long liquidations hit highest since June
Image: CoinGapeBitcoin fell below $84,000 as long liquidations reached their highest level since June. Ethereum traded below $2,600 and was down 5.67% on October 7. Ethereum long liquidations totalled $201 million on October 7, the most in a single day since June 5. Bitcoin long liquidations exceeded 14,505 BTC, worth about $1.17 billion. More than 100,000 traders were caught in the wipeout.
Key points
- Bitcoin fell below $84,000 as long positions were liquidated across crypto markets.
- Long liquidations for Bitcoin and Ethereum hit their highest levels since June.
- The losses were driven by leveraged long positions rather than short positions.
Why it matters
Leveraged long positions took the heaviest losses as Bitcoin and Ethereum prices fell, forcing traders out of their bets. The scale of the liquidations shows how crowded leveraged long trading had become.
What's unclear
Funding conditions are not consistent across the reports: one cites a negative Ethereum weighted funding rate while the other describes funding as positive.
Price context · BTC
At publication
$80,753.00
Now
$81,345.00
Change since
+0.73%
7 days · dashed line = publication
Sources · 2 publishers
Ethereum Price Prediction: Analyst Warns of Deeper Correction as ETH Sees Highest Long Liquidations Since June
Crypto Briefing
Tier 2
Bitcoin long liquidations hit largest level since early June
Coverage timeline
- First reported by CoinGape
- Confirmed by Crypto Briefing
- 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
