Bitcoin Liquidations Exceed 2.4 Billion Dollars as Prices Fall

Bitcoin's early October sell-off triggered more than $2.4 billion in cryptocurrency liquidations as prices retreated from recent highs, according to TradingView. Long positions accounted for most forced closures, while rising US Treasury yields, higher oil prices and withdrawals from spot Bitcoin exchange-traded funds added pressure to the broader market.

Bitcoin fell from levels near $86,600 to intraday lows of approximately $80,350 during the downturn. By October 9–10, the cryptocurrency had partially recovered to around $82,500, according to the report, which described substantial losses for traders positioned for further price gains.

Liquidations during individual 24-hour periods ranged from $696 million to more than $1.2 billion. Long positions represented approximately 85% to 93% of liquidated positions across several days, while individual sessions saw between 100,000 and 180,000 traders affected.

The broader cryptocurrency market also contracted sharply during the sell-off. Total market capitalization declined by approximately $110 billion within 36 hours, according to TradingView.

Financial market conditions added to the pressure on digital assets. US Treasury yields climbed above 5.3% during the period, while oil prices rose above $101 per barrel. US spot Bitcoin ETF flows also turned negative, with outflows reaching hundreds of millions of dollars on peak days, the report said.

On-chain activity provided another measure of investor stress. Short-term holders transferred 55,600 BTC to exchanges at a loss during the decline, according to the data cited by TradingView. Such transfers occurred as Bitcoin traded substantially below its recent highs.

Despite the sharp decline and large-scale liquidations, open interest remained relatively stable near $150 billion. Open interest measures the total value of outstanding futures and derivatives positions, offering a snapshot of exposure in those markets.

The report also compared the latest losses with the liquidation event in October 2025, when approximately $19 billion in positions were wiped out. That earlier episode was considerably larger than the more than $2.4 billion recorded during the current week's decline.

TradingView identified $82,500 as a key technical level following Bitcoin's partial recovery. Additional clusters of trading activity were concentrated between $81,000 and $84,000, placing the cryptocurrency near the lower end of that range after the sell-off.