Bearish
Bitcoin drops below $84,000 amid rising liquidations and declining spot demand.
Over the past 24 hours, Bitcoin's price has fallen below the critical $84,000 support level, reaching a two-month low of $81,000. This decline is attributed to a combination of factors, including significant long liquidations totaling $1.6 billion and a negative cumulative 30-day spot demand of -180,000 BTC, indicating that price movements are primarily driven by derivatives rather than spot market activity.
Key points
- Bitcoin's price has declined to a two-month low of $81,000, breaking below the $84,000 support level.
- Long liquidations have surged, with $1.6 billion in positions being liquidated as Bitcoin's price fell.
- Cumulative 30-day spot demand remains negative at -180,000 BTC, suggesting that price action is primarily driven by derivatives.
Sources
- Bitcoin loses crucial $84K support: How low can BTC price go?Cointelegraph · October 2, 2026
- Bitcoin declines for fourth consecutive session, falls below $80,000.TradingView News India · October 2, 2026
- Bitcoin reaches for $87K as short liquidations top $120M.TradingView News · October 2, 2026
- Bitcoin chases range highs despite rising BTC exchange inflows: Is $80K next?TradingView News · October 2, 2026
AI-generated from public news sources. Not financial advice.
