Macro Shock and ETF Outflows Trigger Massive $1 Billion Liquidations as Bitcoin Dips Near $81,000

The crypto market has suffered a sharp risk-off reversal, plunging sharply as a combination of hawkish macroeconomic data, technical liquidations, and heavy spot ETF outflows wiped out over $1 billion in derivatives positions across a brutal 24-hour window.

Bitcoin dropped toward the $81,000 threshold, dragging major altcoins and Ethereum down significantly in tandem.

October Meltdown

The sudden market downturn broke key technical support levels, catching leveraged traders off guard and triggering a severe cascade of forced position closures.

According to CoinGlass and market tracking data, total crypto market liquidations topped $1.16 billion, with over 90% of the wiped-out positions consisting of over-leveraged long bets. Bitcoin accounted for roughly $209 million of the liquidations, while Ethereum saw $87 million flushed out.

Moreover, for much of recent months, U.S. spot Bitcoin ETFs acted as the primary structural buyers absorbing market dips. That dynamic inverted dramatically as institutional funds logged massive net outflows, with U.S. spot Bitcoin ETFs shedding nearly $485 million in a single session.

Key Support Levels to Watch

Following the swift descent, Bitcoin dipped to an intraday low near $80,427 before stabilizing around the $81,000 to $81,800 range. Ethereum experienced an even heavier correction, sliding toward $2,432 amid a broader 9% weekly contraction.

Analysts note that while the aggressive leverage flush has successfully cooled overheated market sentiment, the immediate priority for bulls is defending the $80,000 support floor. Sustained institutional re-entry via spot products will be critical to determine whether this pullback represents a temporary macro-driven correction or a deeper shift in fourth-quarter market momentum.

Disclaimer. This data are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.