Why Is Bitcoin Down Today: Bitcoin at $83,253 After $1.19…
By Tobi Opeyemi Amure
AI summary of the source article
Bitcoin traded at $83,253 on 9 October 2026, up about 1 percent on the day following an intraday low of $80,393.56 on Binance on 8 October. Market data showed 24-hour liquidations reached $1.19 billion across venues, with long positions accounting for over $1 billion. Liquidations were led by ether at $356 million and bitcoin at $298 million. Concurrently, US spot bitcoin ETFs experienced two-day outflows totaling $729.0 million across 7 and 8 October, with Fidelity's FBTC and BlackRock's IBIT leading withdrawals.
Why it matters
The data demonstrates how heavy derivatives liquidations and spot ETF outflows can drive short-term price drops even as underlying spot turnover remains resilient.
Key facts
- Bitcoin reached a low of $80,393.56 on Binance on 8 October before rebounding to $83,253 on 9 October 2026.
- Crypto liquidations totaled $1.19 billion over a 24-hour window, with over $1 billion coming from long positions.
- US spot bitcoin ETFs recorded two-day net outflows of $729.0 million across 7 and 8 October.