{"id":570129,"date":"2026-10-08T22:00:13","date_gmt":"2026-10-08T21:00:13","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=570129"},"modified":"2026-10-08T21:51:03","modified_gmt":"2026-10-08T20:51:03","slug":"bitcoin-crashes-through-81000-buy-wall-as-1-billion-crypto-liquidation-bloodbath-unfolds","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-crashes-through-81000-buy-wall-as-1-billion-crypto-liquidation-bloodbath-unfolds\/","title":{"rendered":"Bitcoin crashes through $81,000 buy wall as $1 billion crypto liquidation bloodbath unfolds"},"content":{"rendered":"

Bitcoin registered an intraday low near $80,000 as a cryptocurrency selloff triggered over $1 billion in liquidations, overwhelmingly hitting traders betting on higher prices.<\/p>\n

The largest cryptocurrency traded around $80,744 as of press time, down 3% over 24 hours and roughly 4% over the past week, extending a retreat from its recent attempt to reclaim $87,000.<\/p>\n

The decline triggered $1.16 billion in liquidations<\/a> across the crypto derivatives market over the preceding 24 hours, according to CoinGlass<\/a> data. Bullish positions accounted for $1 billion of that total, compared with $108 million in short positions.<\/p>\n

\"Crypto
Crypto liquidations reached $1.16 billion in 24 hours, led by $1.05 billion in longs as ETH and BTC bore the largest losses.<\/figcaption><\/figure>\n

The figures show how quickly the market's positioning has deteriorated as falling prices force exchanges to close leveraged trades that can no longer meet collateral requirements. Such liquidations can accelerate a decline when exchanges sell assets or close long positions into an already weakening market.<\/p>\n

The pressure has intensified in recent hours. CoinGlass recorded nearly $700 million in liquidations over four hours, including $650 million in long positions. Overall, 166,769 traders were liquidated during the 24-hour period.<\/p>\n

Ethereum leads the over $1 billion liquidation rout<\/h2>\n

Although Bitcoin's slide has dominated market attention, Ethereum has suffered the largest liquidation losses among major cryptocurrencies.<\/p>\n

CoinGlass data showed approximately $324 million in Ethereum positions liquidated over 24 hours, compared with $240 million in Bitcoin positions<\/a>.<\/p>\n

Ethereum plunged below $2,500<\/a>, down 4% over the same period, extending its weekly decline to approximately 9.3%.<\/p>\n

The largest individual liquidation occurred on Hyperliquid, where traders closed an ETH-USD position worth about $20 million.<\/p>\n

Losses spread across other major digital assets as the market unwound leveraged bullish exposure.<\/p>\n

Solana fell 7.2% over 24 hours to approximately $108.61, while XRP declined 5.7% to $1.35. BNB fell 4.9%, and Zcash posted one of the steepest declines among the largest cryptocurrencies, down 14%.<\/p>\n\n

\n \n
\n Related Reading<\/span>\n

Why Bitcoin\u2019s $80,000 rally just flipped from short squeeze to long squeeze<\/h3>\n <\/div>\n \n <\/i>\n <\/span>\n <\/a>\n<\/div>\n\n

Heavier losses across several altcoins suggest the broader market is under more stress than Bitcoin's percentage decline alone indicates.<\/p>\n

The development also comes after warnings that leverage across the altcoin market had become increasingly stretched.<\/p>\n

In its Oct. 7 weekly market report<\/a>, Glassnode<\/a> observed that a growing share of large-cap altcoins carried unusually elevated open interest relative to their market capitalization.<\/p>\n

The analytics firm said the proportion had reached its highest level since before the October 2025 crypto market crash.<\/p>\n

That positioning leaves traders vulnerable to further forced liquidations if prices keep falling before they reduce leveraged positions.<\/p>\n

Bitcoin's newest investors rush coins to exchanges<\/h2>\n

The pressure is also visible in Bitcoin's on-chain activity<\/a>, where recently acquired holdings are increasingly moving toward exchanges.<\/p>\n

According to CryptoQuant<\/a>, short-term Bitcoin holders transferred more than 50,000 BTC to exchanges at the 24-hour daily peak.<\/p>\n

Of that amount, more than 29,500 BTC was transferred at a loss, representing approximately 59% of the cohort's exchange inflows.<\/p>\n

\"Bitcoin
Short-term holders sent 45,600 BTC to exchanges in 24 hours, including 24,900 BTC transferred at a loss. Source: CryptoQuant<\/figcaption><\/figure>\n

CryptoQuant said the losses associated with those transfers were the largest recorded among short-term holders in nearly four months.<\/p>\n

The movement marks a deterioration in sentiment among investors who acquired Bitcoin relatively recently and are generally more sensitive to changes in market prices.<\/p>\n

Large exchange deposits can signal an intention to sell, particularly when investors are moving assets at a loss.<\/p>\n

However, such transfers do not necessarily result in immediate sales, though the rise in loss-associated deposits adds another potential source of market supply as leveraged positions are already being unwound. It also contrasts with the profit-taking that accompanied Bitcoin's recent advance above $85,000.<\/p>\n

Glassnode previously reported that short-term holders accounted for approximately 86% of exchange inflows on Oct. 4 as Bitcoin closed above that level, the highest such share in a year.<\/p>\n

The shift from profit-taking to loss-associated transfers suggests that the market's retreat is increasingly affecting participants who bought during the recent rally.<\/p>\n

Bitcoin's $81,000 buy wall faces a crucial test<\/h2>\n

The immediate question is whether Bitcoin can find sufficient demand near $81,000 to absorb the rising selling pressure.<\/p>\n

Glassnode identified a substantial concentration of resting buy orders between $81,000 and $81,250 on Binance's spot order book in its Oct. 7 analysis.<\/p>\n

Those orders had accumulated since Oct. 3 and represented the largest visible block of bids below Bitcoin's prevailing price<\/a>.<\/p>\n

\"Bitcoin
Bitcoin cleared the $85,000 ask wall but failed to hold it, leaving the next major support block near $81,000. Source: Glassnode<\/figcaption><\/figure>\n

The firm identified the area as an important support zone after Bitcoin failed to overcome sell orders between $86,500 and $86,750 and subsequently lost the buying support that had developed around $85,000.<\/p>\n

However, bid concentration does not guarantee price stability. Orders can be withdrawn, while continued selling could overwhelm available demand.<\/p>\n

Glassnode's derivatives analysis identified a large concentration of potential liquidation levels between $81,700 and $83,300, with another significant cluster near $75,000.<\/p>\n

The latest decline has already carried Bitcoin through much of the near-term zone, leaving traders focused on whether buying interest around $81,000 can withstand further pressure.<\/p>\n

A sustained break below the $81,000 bid zone could send Bitcoin lower again, potentially drawing attention to the deeper liquidation concentrations Glassnode identified.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin registered an intraday low near $80,000 as a cryptocurrency selloff triggered over $1 billion in liquidations, overwhelmingly hitting traders betting on higher prices. The largest cryptocurrency traded around $80,744 as of press time, down 3% over 24 hours and roughly 4% over the past week, extending a retreat from its recent attempt to reclaim […]<\/p>\n","protected":false},"author":720,"featured_media":570168,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,77968,80621,79312,15323,6849],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nBitcoin slides toward $80,000 amid $1 billion crypto wipeout<\/title>\n<meta name=\"description\" content=\"Bitcoin fell below $81,000 as a marketwide selloff erased more than $1 billion in leveraged crypto positions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bitcoin-crashes-through-81000-buy-wall-as-1-billion-crypto-liquidation-bloodbath-unfolds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin crashes through $81,000 buy wall as $1 billion crypto liquidation bloodbath unfolds\" \/>\n<meta property=\"og:description\" content=\"Bitcoin fell below $81,000 as a marketwide selloff erased more than $1 billion in leveraged crypto positions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/bitcoin-crashes-through-81000-buy-wall-as-1-billion-crypto-liquidation-bloodbath-unfolds\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2026-10-08T21:00:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-10-08T20:51:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/bitcoin-fed-waterfall.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/bitcoin-crashes-through-81000-buy-wall-as-1-billion-crypto-liquidation-bloodbath-unfolds\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/bitcoin-crashes-through-81000-buy-wall-as-1-billion-crypto-liquidation-bloodbath-unfolds\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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