Bitcoin falls below $81,000 with $400M in leveraged longs liquidated in 60 minutes.
Macro & Markets ·
Bitcoin declined to $82,200, its lowest point in 17 days, following weaker-than-expected US labor data released in September. The selloff erased roughly $110 billion from crypto markets within 36 hours, with the total market capitalization falling from $2.920 trillion to $2.810 trillion. Major altcoins suffered broad losses, including Ethereum sliding to $2,560 and Zcash dropping 6%, though a small number of tokens like BTW posted double-digit gains.
The price action revealed repeated rejection patterns at higher levels. Bitcoin initially surged to $87,250 after the labor report, then reversed sharply, losing over $3,000 within hours. Bulls attempted recoveries toward $87,000 on Sunday and Monday but faced rejection each time, triggering a more severe pullback that pushed BTC down $2,000 in 20 minutes before stabilizing near $83,000 at the time of reporting.
It remains unclear whether the selloff will find support at current levels or continue lower. Bitcoin's dominance over altcoins held steady at 59%, and no specific timeframe has been given for when volatility might ease. The relationship between ongoing US economic data and crypto price action will likely remain a key factor for near-term direction.