Overview
- Bitcoin fell through a series of lower highs near $87K and dropped to lows reported around $82,200 and $80,400 during a multi‑day selloff before recovering to about $83–84K.
- Large leveraged liquidations accelerated the move with trackers reporting hundreds of millions wiped out in short windows, including reports of roughly $480 million in one hour and nearly $83 million in short liquidations on a later bounce.
- U.S. spot Bitcoin ETF flows swung from heavy outflows on Oct. 7–8 to modest inflows on Oct. 9, leaving cumulative ETF net inflows near $57 billion while concentrated moves by funds such as Fidelity amplified short‑term pressure.
- Technicals and on‑chain signals now guide traders: the $80.6K support shelf and the 50‑day EMA (around $79.7–79.8K) are viewed as the lines that keep the recovery intact, while repeated rejections around $87K form the main overhead resistance.
- Near‑term direction will likely hinge on incoming U.S. inflation data and Fed policy signals, the persistence of ETF flows, and whether spot demand can absorb concentrated sell pressure without triggering another wave of liquidations.