Bitcoin Long Liquidations Reach $280 Million as Price Dips Below $84K
Bitcoin briefly fell below $84,000 after failing to hold gains near $87,000, while $82,000 emerged as a key level to watch.
Bitcoin (BTC) long liquidations reached $280 million over four hours on Sept. 23 as the cryptocurrency briefly fell below $84,000, adding pressure to leveraged positions.
The decline came after BTC/USD made a second attempt to move above $87,000 before reversing toward its weekly low around the U.S. stock market open. Bitcoin traded within a narrow range, with $84,000 and $87,000 marking its lower and upper boundaries.
The $82,000 level emerged as a key support area if the short-term market structure breaks down. A break below $82,000 could put the $60,000-$80,000 range back in focus.
Bitcoin’s 30-day cumulative spot demand remained negative at 180,000 BTC below zero as of Tuesday. Negative readings indicate that supply exceeded demand over the period, while futures demand continued to increase.
