Bitcoin Falls Below $81,000 as Crypto Liquidations Top $1.1 Billion

Bitcoin (BTC) fell below $81,000 on Oct. 8 as crypto traders faced more than $1.1 billion in forced position closures over 24 hours, with bullish bets absorbing most losses. At 1:15 p.m. ET (17:15 UTC), the rolling 24-hour total was $1.12 billion, including $1.04 billion in liquidations of long positions and $83.73 million in short positions. The preceding hour accounted for $162.15 million. Long positions are bets that prices will rise; short positions are bets that prices will fall. Ether (ETH) led the asset breakdown at $318.30 million, compared with $286.15 million for Bitcoin.

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