Bitcoin price today: Why BTC USD fell below $83,000 as $714 million in crypto positions were liquidated
Bitcoin's price dropped to $83,000 following a significant sell-off in the cryptocurrency market. More than $714 million worth of crypto positions were liquidated in the past 24 hours. Ethereum and several altcoins, including XRP and Dogecoin, also experienced declines. Concurrently, oil prices rose above $101 per barrel, adding to inflation concerns.
ReutersBitcoin price today: Why BTC USD fell below $83,000 as $714 million in crypto positions were liquidated
Bitcoin price today fell to $83,000 level as the cryptocurrency market came under renewed selling pressure, with more than $714 million in crypto positions liquidated over the past 24 hours.BTC USD opened at $85,543.66 before dropping to an intraday low of $82,776.
30, it was later trading at $83,178.54.The decline came as oil prices moved higher and US Treasury yields climbed, while US stocks and gold also fell.
Bitcoin Price (BTC USD) Drops Below $83,000Bitcoin fell 3.2% during the move below $83,000. The cryptocurrency had been rejected near $86,978.
45 on the four-hour chart before moving lower.The selling also hit leveraged traders. According to CoinGlass data, 124,276 traders were liquidated over the past 24 hours, with total liquidations reaching $714.
47 million.Live EventsYou Might Also Like:XRP price prediction: Why $2.10 and $3.
65 are key targets after XRP price today falls to $1.47The largest single liquidation order occurred on Binance, involving an ETHUSDC position worth $26.64 million.
Crypto Market Cap Falls to $2.9 TrillionThe selling was not limited to Bitcoin.The total cryptocurrency market capitalization fell back to $2.
9 trillion, with more than $100 billion wiped out over 24 hours.Ethereum dropped 6% to $4,436. XRP, Solana and Dogecoin also came under selling pressure.
You Might Also Like:Will US stock market face a major shift? Michael Burry warns of 270 days and Ray Dalio says AI bubble is near bursting - what investors need to knowEthereum recorded the largest single liquidation order, with the $26.64 million ETHUSDC position on Binance representing the biggest liquidation.
Oil Moves Above $101 as Treasury Yields RiseThe cryptocurrency decline came as other markets also moved lower.Brent crude moved back above $101 a barrel. 10-year US Treasury yield was near 5.
34%. The 30-year Treasury yield reached 5.70%, which was its highest level since 2002.
The S&P 500 was dropped 0.59% at 7772.60 and the Nasdaq was down 0.
71%.You Might Also Like:How a Singapore couple turned a $30,000 startup, KeaBabies, into a global brand generating $76 million revenueGold also dropped by 1.53% to $4123.
10.Oil prices were affected by ship attacks in and around the Strait of Hormuz. Higher oil prices were also adding to inflation concerns.
US 10-Year Treasury Yield Tops 5.35%The US 10-year Treasury yield briefly moved above 5.35% and then falling back to 5.
30%.The US Dollar Index also reached 102.50, which was its highest level since March 2025, before reversing to 102.
3.Bitcoin Falls to an Intraday Low of $82,776Bitcoin's decline took it to an intraday low of $82,776.30 before it moved back above $83,000.
Bitcoin's four-hour Relative Strength Index stood at 32.2 and its daily RSI was 52.5.
The 50-day exponential moving average remained above the 200-day EMA on both the daily and four-hour charts.The Federal Reserve's minutes from its September 15-16 meeting were also due on Wednesday.With Bitcoin below $83,000 and CoinGlass recording $714.
47 million in total liquidations over 24 hours, the latest decline has brought another large wave of forced selling across the cryptocurrency market.Add as a Reliable and Trusted News Source Add Now!
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