Bitcoin has slipped below $82,000 in the latest market sell-off, falling about 2.3% in 24 hours after touching a high near $84,265. The price briefly tested levels just above $80,900 before recovering slightly, as selling pressure stayed strong into early trading on Tuesday.
The drop triggered a wave of forced selling in futures markets. About $771 million in crypto positions were liquidated in 24 hours, and most of that — around $686 million — came from long traders who were betting on higher prices. When Bitcoin broke below the $81,500 area, more stop orders and margin calls followed.
Institutional demand is also weak right now. US spot Bitcoin ETFs saw about $681 million in net outflows last week, the biggest weekly pullback since June, while spot Ethereum ETFs have now gone many days without an inflow day. That means big buyers are stepping back while leveraged traders are being forced out.
Ethereum and other big coins followed Bitcoin lower, with Ether holding only just above the $2,400-$2,500 zone in recent trading. Traders say the next key level to watch is $80,000 for Bitcoin — if that support breaks with heavy volume, the next support areas sit much lower, but a quick recovery above $82,000 could ease the pressure.
All eyes now turn to Wednesday's US inflation (CPI) report, which could decide the next big move. A softer inflation number may help Bitcoin and stocks recover, while a hotter number could keep bond yields high and push risk assets down again.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: The Block, CoinDesk, CoinGlass
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