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Bitcoin swings to $85K then drops, causing $431M in liquidations amid market uncertainty

Market News
22 Oct 2026
Coindesk
View Source
Bearish
Bitcoin swings to $85K then drops, causing $431M in liquidations amid market uncertainty

Bitcoin surged to nearly $85,000 before dropping back to around $81,800 within a day, causing significant losses for traders on both sides. This $3,000 price swing led to $431 million in liquidations, with $173 million from short sellers during the rise and $210 million from bullish bets during the fall. The drop pushed Bitcoin below $82,500, a key level that could lead to further declines toward $70,000 if broken. Other cryptocurrencies like HYPE, DOGE, and SOL also fell, while XMR rose 11%. The broader tech market showed weakness, with Nasdaq futures down after negative forecasts from Tesla and Lam Research.

Bitcoin price moves provide context for readers following cryptocurrency markets. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 22, 2026 16:31 WIB: Out of 50 major cryptocurrencies priced on Pluang, 4 rose and 45 fell today. Notable movers include BAL (Balancer) up 11.14% at Rp16.297, KSM (Kusama) down 8.46% at Rp71.153 with 68% buy order activity, and EOS (EOS.IO) up 8.13% at Rp12.649.

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