Key Takeaways
- • Crypto markets sold off sharply, with $1.13 billion in leveraged positions liquidated within 24 hours, affecting nearly 188,000 traders, with long positions accounting for the majority of liquidations.
- • Bitcoin fell 3.3% to about $80,550 and Ether dropped 5.7% to around $2,413, while total crypto market value declined 3.31% to roughly $2.83 trillion.
- • The selloff was attributed to concerns that the Federal Reserve may raise interest rates by year-end, based on recent Fed meeting minutes.
- • Despite the drawdown, Pluang users placed 76% buy orders with a typical holding period of 111 days, pointing to a longer-term posture among retail participants.
Summary
The crypto market experienced a sharp selloff within a 24-hour window, with $1.13 billion in leveraged positions liquidated. Long positions made up the majority of the liquidations, affecting nearly 188,000 traders. Bitcoin declined 3.3% to approximately $80,550, while Ether fell 5.7% to around $2,413. Overall market capitalization dropped 3.31% to approximately $2.83 trillion.
According to the source, the decline was driven by concerns over a likely Federal Reserve interest rate increase by year-end, as indicated in recent Fed meeting minutes. The move signals heightened volatility and caution for crypto investors, with leveraged long positions bearing the brunt of forced closures.
Related coverage from the same period reported a broader scale of the event. Bitcoin and Ether triggered roughly $1.19 billion in liquidations across nearly 193,000 traders on October 8, with Bitcoin briefly dipping below $80,500 before recovering above $81,500, and Ether sliding toward $2,400 before rebounding. Among major altcoins, NEAR Protocol posted the steepest decline among the top 90 cryptocurrencies, falling 16.41% to $4.47 over the 24 hours ending October 8.
Retail positioning on Pluang showed a contrarian stance during the drawdown. Bitcoin traded at Rp1,463,350,281 on the platform as of October 9, 2026, 04:02 WIB, down 1.89% over the prior day. Despite the volatility, 76% of orders on the platform were buys, and the typical holding period was 111 days, indicating a longer-term investment approach among its users.
According to the source, the decline was driven by concerns over a likely Federal Reserve interest rate increase by year-end, as indicated in recent Fed meeting minutes. The move signals heightened volatility and caution for crypto investors, with leveraged long positions bearing the brunt of forced closures.
Related coverage from the same period reported a broader scale of the event. Bitcoin and Ether triggered roughly $1.19 billion in liquidations across nearly 193,000 traders on October 8, with Bitcoin briefly dipping below $80,500 before recovering above $81,500, and Ether sliding toward $2,400 before rebounding. Among major altcoins, NEAR Protocol posted the steepest decline among the top 90 cryptocurrencies, falling 16.41% to $4.47 over the 24 hours ending October 8.
Retail positioning on Pluang showed a contrarian stance during the drawdown. Bitcoin traded at Rp1,463,350,281 on the platform as of October 9, 2026, 04:02 WIB, down 1.89% over the prior day. Despite the volatility, 76% of orders on the platform were buys, and the typical holding period was 111 days, indicating a longer-term investment approach among its users.
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