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Bitcoin dips below $83K, wiping out $42M in long positions before US market opens

Market News
12 Oct 2026
Crypto Briefing
View Source
Bearish
Bitcoin dips below $83K, wiping out $42M in long positions before US market opens

Bitcoin briefly fell below $83,000 on October 8, 2026, triggering nearly $42 million in long position liquidations before the US stock market opened. This was part of a larger $696 million liquidation event over 24 hours, mainly affecting leveraged long traders. The drop was a mechanical leverage flush rather than a reaction to new market news, with Bitcoin quickly recovering above $83,000. The $83,000 to $84,000 range has been a critical price zone in 2026, often triggering liquidation cascades when breached. Elevated open interest and crowded leveraged positions near this level suggest continued volatility, making monitoring derivatives data crucial for traders and investors.

Bitcoin's price movement is noted as of Oct 12, 2026 19:42 WIB, providing context for cryptocurrency market activity. For readers following major cryptocurrencies on Pluang, 30 out of 50 rose and 18 fell today. Notable movers include XTZ (Tezos) with a 7.49% increase and 100% buy order activity, BAT (Basic Attention Token) up 6.31%, and ONE (Harmony) down 5.97%.

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