Bitcoin recovers above $82,500 after $1.7 billion derivatives liquidation
CIE News ·
Bitcoin reclaimed the $82,500 level following heavy futures liquidations totaling $1.709 billion across the market. U.S. spot Bitcoin ETFs also halted an outflow streak with a modest $21.1 million inflow on October 9.
Bitcoin (BTC) climbed back above $82,500 on October 10, trading near $82,750 after dropping to around $80,400 earlier in the week. The market rebound occurred after a 24-hour liquidation wave cleared $1.709 billion across cryptocurrency futures contracts. Liquidation totals included $444 million in BTC positions and $527 million in Ethereum (ETH) positions, while ETH struggled near the $2,500 level.
According to tradingkey.com, spot Bitcoin exchange-traded funds in the United States logged $21.1 million in net inflows on October 9, ending two consecutive days of net outflows that had totaled approximately $729 million. Even with the single-day inflow, cumulative net outflows between October 5 and October 9 reached roughly $679 million.
Tradingkey.com reported that geopolitical developments, including U.S.-Iran discussions mentioned by U.S. President Donald Trump, helped lower international oil prices and temporarily weakened the U.S. dollar. The 10-year U.S. Treasury yield remained elevated around 5.24%, while technical resistance for BTC was positioned between $83,000 and $83,500.