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Bitcoin’s October Sell-Off: What Drove the Drop and Rebound
Bitcoin dropped to roughly $80,300–$80,400 on October 8 as more than $1.1 billion in crypto positions were liquidated, most of them bullish bets; it later rebounded to around $82,500–$83,000. Reports linked the pressure to leveraged selling, rising oil prices and Treasury yields.
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Key takeaways
- Bitcoin dropped to roughly $80,300–$80,400 on October 8 as more than $1.1 billion in crypto positions were liquidated, most of them bullish bets; it later rebounded to around $82,500–$83,000.
- Reports linked the pressure to leveraged selling, rising oil prices and Treasury yields.
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openai.comCreate a landscape editorial hero image for this Studio Global article: How did Bitcoin’s October 8–10, 2026 sell-off and partial recovery unfold—from roughly $86,600 to a one-month Coinbase low of $80,365.12 and. Article summary: Bitcoin’s October 8–10 sell-off appears to have been a leveraged-market washout followed by a relief bounce: available reports put the October 8 low around $80,300–$80,400 and the subsequent recovery around $82,500–$83,0. Topic tags: general, general web. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts with fake numbers, clic
Bitcoin slid from near $87,000 earlier in the week to around $80,300–$80,400 on October 8, then recovered to roughly $82,500–$83,000 by October 10. The sharp low coincided with more than $1.1 billion in liquidations across crypto markets, most of them long positions. Reports pointed to leveraged selling and macroeconomic pressure, but the evidence does not establish a single cause for the decline. 19
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The sell-off and rebound
On October 8, Bitcoin fell below $81,000. Reports put the low in a range around $80,300–$80,400, with one citing a $80,350 low on Bitstamp. The exact low varied by exchange and reporting snapshot, so the figures do not independently confirm the specific Coinbase price of $80,365.12. 19
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The liquidation wave was large but not Bitcoin-only: reports counted more than $1.1 billion in forced closures across crypto positions, including approximately $1.04 billion–$1.05 billion in long positions. Such liquidations can intensify a decline as leveraged traders’ positions are closed, but the total should not be described as Bitcoin losses alone. 19
Bitcoin recovered above $82,000 on October 9. One report recorded a 2.3% rise to $82,679 after the previous day’s drop and identified $84,000 as nearby resistance. By October 10, market snapshots placed the price around $82,650–$83,000. 18
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Why Bitcoin came under pressure
Leveraged positions were unwound. The predominance of liquidated long positions is consistent with a washout of bullish bets. A subsequent market analysis described the rebound as a technical relief bounce after leveraged selling pressure eased—not confirmation of a lasting reversal. 19
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Oil prices and Treasury yields weighed on sentiment. Coverage of the October 10 rebound cited rising oil prices, higher U.S. Treasury yields and security concerns as factors weighing on sentiment. Another report also pointed to profit-taking. These are reported contributors, not proof that any one factor caused a particular trade. 2
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Bitcoin fund outflows were another reported headwind. A report cited $484.9 million in U.S. spot Bitcoin ETF outflows on October 7 and a further $244.1 million on October 8. But the supplied reporting does not establish that fund selling triggered the liquidation wave. 22
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What the figures do—and don’t—show
Weekly-loss estimates depend on the snapshot. An October 10 market update put Bitcoin down 2.39% for the week, while an October 9 report described a decline of about 5%. These reports reflect different snapshots; the available evidence does not resolve the discrepancy into one definitive weekly figure. 8
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Some other large cryptocurrencies were also down in an October 9 daily snapshot: Dogecoin fell 5.2%, Solana 5.1%, Ethereum 3.2% and XRP 2.4%. Those are daily figures, not comparable weekly returns. The available sources do not substantiate the full requested weekly comparison with Stellar, Monero and NEAR, or NEAR’s reported 91.7% monthly gain. 20
The near-term levels mentioned in coverage—including $82,500 support, $84,000 resistance and October 14 CPI data—are market reference points, not guarantees about what happens next. A bounce after forced selling can offer relief without establishing that a durable recovery is underway. 18
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What is the short answer to "Bitcoin’s October Sell-Off: What Drove the Drop and Rebound"?
Bitcoin dropped to roughly $80,300–$80,400 on October 8 as more than $1.1 billion in crypto positions were liquidated, most of them bullish bets; it later rebounded to around $82,500–$83,000.
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Bitcoin dropped to roughly $80,300–$80,400 on October 8 as more than $1.1 billion in crypto positions were liquidated, most of them bullish bets; it later rebounded to around $82,500–$83,000. Reports linked the pressure to leveraged selling, rising oil prices and Treasury yields.