Bitcoin experienced its largest long liquidation since June 2026, with over 14,505 BTC (about $1.17 billion) wiped out as the price fell below $84,000 between October 6-8, 2026. The sharpest drop occurred on October 6, when Bitcoin plunged from around $85,500 to $83,800 in 15 minutes, triggering $400 million in liquidations within an hour and affecting over 100,000 traders. Despite the large liquidation, this event is seen as a mechanical leverage flush rather than a major market shift, with open interest and funding rates indicating continued bullish leverage. This suggests traders remain optimistic about Bitcoin's prospects despite the recent volatility.
Bitcoin's recent long liquidation event provides context for the broader cryptocurrency market. For readers following crypto assets, here is Pluang's market snapshot as of Oct 09, 2026 00:32 WIB: out of 50 major cryptocurrencies, 45 fell and only 4 rose today. Notable movers include SAND with a 19.38% drop and a Pluang order activity of 69% Sell, MANA down 12.87% with 89% Buy activity, and AVAX down 12.31% with 61% Sell activity.
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