CryptoSlate
Bitcoin fell below $81,000 as a broad crypto selloff triggered $1.16 billion in 24-hour liquidations, with long positions accounting for $1.05 billion of the wipeout. The largest cryptocurrency traded near $80,744, down 3% over 24 hours, after failing to hold an $85,000 ask wall and breaching the $81,000 to $81,250 support block that had built up on Binance since Oct. 3.
Why it matters
This is the largest long-side liquidation event in months and marks a clear shift from the profit-taking that accompanied Bitcoin's advance above $85,000 earlier in October. Short-term holders transferred 45,600 BTC to exchanges over 24 hours, including 24,900 BTC moved at a loss, the largest loss-associated transfer from this cohort in nearly four months, per CryptoQuant. Glassnode had warned in its Oct. 7 weekly note that altcoin open interest relative to market cap had reached its highest level since before the October 2025 crash, leaving the market structurally exposed to a flush.
Market impact
Ethereum bore the heaviest losses, with about $324 million in positions liquidated against $240 million for Bitcoin, as ETH broke below $2,500. The largest single liquidation was a $20 million ETH-USD position on Hyperliquid. Altcoins extended the damage across the board: SOL fell 7.2% to around $108.61, XRP dropped 5.7% to $1.35, BNB lost 4.9%, and Zcash was the worst hit among majors, down 14%. Glassnode's derivatives map shows another major liquidation cluster between $81,700 and $83,300, with a deeper pocket near $75,000. A sustained break of the $81,000 bid zone would pull BTC into both, and orders on the visible book can be pulled faster than forced sellers can be absorbed.
Frequently asked questions
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Why is Bitcoin falling below $81,000?
BTC lost the $85,000 ask wall and breached the $81,000 to $81,250 buy support block on Binance that had built since Oct. 3, triggering $1.16B in 24-hour liquidations with longs taking $1.05B of the damage.
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Which cryptocurrency had the largest liquidations?
Ethereum, with about $324M in positions liquidated over 24 hours, ahead of Bitcoin's $240M, as ETH broke below $2,500. The largest single liquidation was a $20M ETH-USD position on Hyperliquid.
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What does on-chain data show about selling pressure?
Short-term Bitcoin holders transferred 45,600 BTC to exchanges in 24 hours, with 24,900 BTC moved at a loss, the largest loss-associated transfer from this cohort in nearly four months, per CryptoQuant.
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What price levels are traders watching next?
Glassnode identified a major liquidation cluster between $81,700 and $83,300, with a deeper concentration near $75,000. A sustained break below the $81,000 bid zone would pull BTC into both ranges.
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Why are altcoins falling harder than Bitcoin?
Glassnode warned in its Oct. 7 note that altcoin open interest relative to market cap had reached its highest level since before the October 2025 crash, leaving leveraged altcoin positions structurally exposed to a flush.
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