Overview
- U.S. spot Bitcoin ETFs recorded roughly $484.9 million in outflows on Oct. 7 and about $244.1 million on Oct. 8, for roughly $729 million of withdrawals that removed a key source of steady buying pressure.
- Derivatives liquidations exceeded $1.1 billion in a 24‑hour window, with long (bullish) positions making up about $1.05 billion of the wiped‑out exposure and more than 100,000 traders forced out of positions.
- Ether traders suffered larger proportional losses than Bitcoin, with estimates of roughly $318 million–$356 million liquidated in ETH versus about $209 million–$304 million in BTC, reflecting heavier leverage in the altcoin market.
- On‑chain flows and order‑book signals heightened stress as short‑term holders moved over 50,000 BTC to exchanges, about 29,500 BTC of which transferred at a loss, and a visible Binance buy wall near $81,000–$81,250 was tested during the selloff.
- What comes next depends on spot demand returning and the $82,800–$83,000 zone being reclaimed; if ETF inflows resume and that level holds, momentum could recover but a sustained break below the $81,000 block would raise the odds of a deeper correction toward the $72,000–$75,000 structural supports.