Bitcoin Slides from $85,000 to Below $81,000
Bitcoin fell below $85,000 on 6 October, trading at 84,987.5 USDT and down 0.29% over 24 hours, according to OKX data. By 8 October, Bitcoin had dropped below $81,000 to 80,957.2 USDT, with its 24-hour loss widening to 2.81%. The deeper decline points to increased short-term selling pressure. Traders may watch whether BTC can recover above $81,000 or faces further weakness; the two price breaks alone do not confirm a longer-term market trend.
Bearish
Bitcoin’s decline from below $85,000 on 6 October to below $81,000 on 8 October, alongside a widening 24-hour loss from 0.29% to 2.81%, signals growing short-term selling pressure and supports a bearish near-term view. Traders may respond by reducing exposure or selling into further weakness, particularly if BTC cannot reclaim $81,000. However, the reports provide no confirmation of a broader trend reversal, and a recovery above that level could ease immediate pressure. Longer-term direction will depend on whether selling persists and how Bitcoin behaves around nearby support and resistance levels.