Bitcoin slips below $83,000, wiping out nearly $42 million in longs before the US open

A leverage flush hit bullish traders early, though Bitcoin quickly clawed back above the $83,000 line Bitcoin dropped below $83,000, and the traders betting on higher prices paid for it. Nearly $42 million in long positions were liquidated before US stock markets even opened. That early-morning wipeout was reportedly part of a bigger purge. Close to $696 million in positions were cleared out across a 24-hour window, mostly from longs. The move came on October 8, 2026, according to research compiled on the event.

Source: Crypto Briefing