BTC $84,069 
ETH $2,617 
USDT $0.9998 
BNB $774.01 
XRP $1.47 
USDC $0.9999 
SOL $118.62 
TRX $0.3330 
FIGR_HELOC $1.04
ZEC $1,326 Why did BTC's price slump by $2K in 20 minutes?
Bitcoin fell below $84,000 in 20 minutes, liquidating over $400 million in longs before the Oct. 10 anniversary.
Key takeaways
- Longs took the hit. Longs accounted for more than 97% of the one-hour damage, with short liquidations at just $11.79 million.
- Smaller than 2025. The $479 million in long liquidations equaled 2.5% of the 2025 total, and 104,836 traders were roughly 6.5% of that day's count.
- Leverage sits below. A one-week heatmap showed heavy leverage at $87,400 above and $82,600 below, and Wednesday's low stopped about $1,000 short of the lower pool.
What happened
Bitcoin dropped about $1,765 in roughly 20 minutes early Wednesday, sliding under $84,000. The descent started at 01:45 UTC on Oct. 7, and BTC slipped as low as $83,577 in a fifteen-minute stretch, a drop of roughly 2.1%. CryptoPotato reported BTC had held above $85,600 before bears drove it south by $2,000 in less than half an hour.
Analysts put the one-hour liquidation total at $412.62 million, with short liquidations at just $11.79 million, meaning longs took more than 97% of the damage. Over 24 hours, long liquidations reached $479 million, and 104,836 traders were liquidated. CryptoPotato put the daily total at over $550 million. The largest order was on Binance, worth $26 million on the ETH/USDC pair.
Ether fell from about $2,688 to a low of $2,591, and XRP slid from $1.49 to $1.43. A Coinglass board showed UNI down 8.35% and Dogecoin down 4.62%. CryptoPotato reported ETH longs took the lion's share, with ether falling roughly 4% below $2,600. Lookonchain spotted a trader losing a 3,728 ETH long worth $9.85 million in about three minutes.
Why it matters
The flush landed three days before Oct. 10, when a tariff shock in 2025 triggered the largest liquidation event in crypto history, wiping out more than $19 billion held by over 1.6 million traders. Wednesday's $479 million in long liquidations equaled just 2.5% of that total, and 104,836 traders were roughly 6.5% of that day's count. It was also smaller than last week's shakeout, when bitcoin dipped below $83k and 129,197 traders were wiped out.
Bitcoin is trading near $84,200, still about $2,500 below its 24-hour high of $86,699. The past week has been a fight around $87,000. A one-week heatmap showed heavy leverage at $87,400 above and $82,600 below, and Wednesday's low stopped about $1,000 short of the lower pool.
What is still unclear
- Lookonchain reported the US government moved 834 BTC ($71.56 million) to Coinbase Prime and another 40,285 BNB, but whether the authorities sold that amount is not established.
Questions readers ask
How much did bitcoin drop in 20 minutes?
Bitcoin dropped about $1,765 in roughly 20 minutes early Wednesday, sliding under $84,000.
How much was liquidated in the move?
One-hour long liquidations were $412.62 million, with shorts at $11.79 million. Over 24 hours, long liquidations reached $479 million, and 104,836 traders were liquidated.
Did the US government sell bitcoin before the drop?
Lookonchain reported 834 BTC ($71.56 million) moved to Coinbase Prime and 40,285 BNB moved. Whether authorities sold that amount is not established.
