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Crypto derivatives liquidations hit $550M, pushing Bitcoin below $84K amid selling pressure.

Market News
07 Oct 2026
Tokenpost
View Source
Bearish
Crypto derivatives liquidations hit $550M, pushing Bitcoin below $84K amid selling pressure.

Over the past 24 hours, approximately $550.3 million in cryptocurrency derivatives positions were liquidated, mainly affecting Bitcoin, Ether, and XRP. Most of the liquidations, about $479.6 million, were long positions, indicating traders betting on price increases faced heavy losses. This forced selling pressure caused Bitcoin to briefly drop below $84,000 after a recent rally from $64,000 to $85,000. Traders are now watching to see if the $84,000 level will hold as support amid ongoing market volatility.

Following the recent liquidation of $550.3 million in crypto derivatives, Bitcoin and XRP are showing notable declines on Pluang as of Oct 07, 2026 18:23 WIB. Bitcoin trades at Rp1.496.767.304, down 2.93% in the last day, while XRP is priced at Rp25.853 with a 4.03% drop. The market shows a higher sell activity for both assets, with Bitcoin orders at 53% sell and XRP at 65% sell, reflecting cautious sentiment among traders on the platform.

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