Bitcoin Price Falls Below $83K as Liquidations Hit $697M

Bitcoin price dropped 3.72% over the past 24 hours to $82,911 as rising Treasury yields, higher oil prices and widespread leveraged liquidations pressured the crypto market. The decline pushed BTC below $83,000 after several failed attempts to break resistance near $87,000.

Bitcoin had traded around $86,600 overnight before selling intensified. The $87,000 region has rejected three advances since September 23, highlighting persistent resistance and shifting attention toward the key $82,000 support level.

Pressure extended beyond crypto. A market alert claimed gold and silver lost more than $400 billion in combined valuation within 10 minutes, although the estimate has not been independently verified. Rising bond yields weighed on precious metals as investors reacted to changing interest-rate expectations.

The total crypto market capitalization declined 3.85% to $2.82 trillion, representing roughly $113 billion in lost market value. Ethereum, XRP, Solana and Dogecoin also traded lower as risk-off sentiment spread across digital assets.

CoinGlass data showed $697.02 million in crypto liquidations during the past 24 hours. Long positions accounted for $644.52 million, indicating that traders betting on continued market gains suffered most of the losses.

Macro pressures added to Bitcoin's weakness. Brent crude climbed above $101 per barrel, while the U.S. 10-year Treasury yield briefly moved above 5.35%. A stronger U.S. dollar also weighed on risk assets as investors awaited the Federal Reserve's September meeting minutes.

Bitcoin's immediate support is now around $82,000, followed by $81,000. A confirmed four-hour close below $81,000 could expose the psychological $80,000 level, while further selling may bring $78,000 into focus.

Technical indicators remain bearish. Bitcoin's Relative Strength Index stood at 33, approaching oversold territory, while the MACD remained below its signal line.

For a recovery, BTC must first reclaim $84,000 and $85,000. A sustained move above those levels could reopen the $86,000–$87,000 resistance zone where recent Bitcoin price rallies have repeatedly stalled.