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The crypto market had a major wave of forced selling on October 8, 2026. Within 24 hours, around $1.50 billion in leveraged trades vanished; most of these, about $1.377 billion, were "long" bets on price increases. With Ethereum dropping by around $759 million and Bitcoin losing around $741 million, the losses were nearly equal. With $82.33 billion in total open trades across both, Bitcoin traded around $81,333 and Ethereum around $2,468.
Traders are leaning conservative. Long/short ratios—0.94 for Bitcoin and 0.88 for Ethereum—suggest that slightly more investors are betting on declines than on increases, and Ethereum appears to be the weaker of the two. Bitcoin's put/call ratio is 1.12, thus more people are purchasing protection against falls. Ethereum's is 0.71; therefore, option traders there are still trending toward gains. Both are above now's values; the "max pain" prices—$84,000 for Bitcoin and $2,650 for Ethereum—
