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Bitcoin Drops Below $83,000 Amid Liquidation
Bitcoin dropped below $83,000, with nearly $42 million in long positions being liquidated before US stock markets opened. The move came on October 8, 2026, and the dip was part of a larger liquidation event. Bitcoin recovered to around $83,100 shortly afterward, putting it back above the $83,000 mark. The liquidation was driven by traders who had leveraged up near the top of the market, exposing them to losses when the price slid back. Open interest in Bitcoin derivatives had been climbing, and liquidation trackers such as Coinglass were central to measuring the damage. The research characterizes the move as a mechanical unwinding, not a sustained wave of selling.