Bitcoin Falls to $81,000 as Long Liquidations Exceed 90%
Bitcoin fell 3.72% in 24 hours to about $81,366, while Ethereum dropped 5.1% to $2,383, falling below $2,400. The sell-off erased most of the gains made after both assets rallied earlier in the week. Bitcoin traded near the lower end of its October range of about $79,800 to $87,220.
Leverage liquidations added to the pressure. On 22 October, the crypto market recorded about $221 million in liquidations, including $207 million in long positions—93.7% of the total. BTC liquidations reached roughly $77 million and ETH liquidations about $67.7 million.
Crypto prices weakened alongside US technology stocks. The Nasdaq fell 2.47%, while BlackRock’s spot Bitcoin ETF (IBIT) lost 4.25%, Coinbase (COIN) fell 4.98% and Strategy (MSTR) dropped 5.6%. ETF flow data for the session had not yet been released.
Traders are watching Bitcoin’s $80,000 level and the October low near $79,800. The sharp reversal highlights crypto’s continued sensitivity to risk-off trading, technology-stock declines and leveraged positioning.
Bearish
The immediate market signals are bearish: Bitcoin and Ethereum have fallen sharply, Ethereum has broken below $2,400, and more than 90% of reported liquidations were long positions. Such forced selling can amplify price declines, while Bitcoin’s proximity to the $80,000 level and October low near $79,800 raises the risk of further stop-losses if support gives way.
The concurrent decline in the Nasdaq and crypto-linked equities points to broad risk aversion rather than an isolated crypto event. Similar episodes of technology-stock weakness have often pressured crypto in the short term as traders reduce exposure to volatile assets. The recent ETF-supported rebound has also largely reversed, although the latest session’s ETF flows were not yet available and therefore cannot confirm whether institutional demand has weakened.
In the short term, traders may remain cautious and watch support levels, liquidation data, US equities and ETF flows. A break below the October low could intensify selling, while a recovery above nearby resistance and renewed spot demand could ease pressure. Longer term, this episode underscores crypto’s sensitivity to macroeconomic and geopolitical risk and leverage, but one day’s price action and liquidations alone do not establish a lasting trend.