Bitcoin fell to $83,404 after an overnight selloff, triggering roughly $143 million in futures liquidations even as US spot ETFs turned positive. CryptoSlate notes the inflows are no guarantee against further forced closures, since margin calls and fund flows run on separate mechanics. The wider crypto market saw about $608 million in leverage wiped out over the same 24 hours.
Bitcoin's morning reading on October 7 showed roughly $143 million in futures positions liquidated over the preceding 24 hours, with CoinGlass reporting a total of $143,016,790 at 06:53 UTC. An overnight break pushed the price down to $83,404. That left Bitcoin within striking distance of the day's low of $83,647.
ETF inflows turn positive but offer no price floor
US spot Bitcoin ETFs recorded $118.8 million in net inflows for October 6, according to Farside Investors, after a net outflow the day before. But CryptoSlate notes that flow figure does not represent a standing bid at a guaranteed price, since liquidation engines react to the exchange's mark price as positions move, not to the timing of ETF creation and redemption.
As a result, subtracting the inflow total from the liquidation notional reveals no net buying or selling balance — fund demand and forced closures can coexist without one offsetting the other.
Hourly chart flashes a sell signal, daily structure holds
On the shorter time frame, Bitcoin's one-hour relative strength index sat at 27, with price trading below every listed moving average. The daily picture looked less damaged: the RSI there held at a neutral 54, and price stayed above its 30-, 50-, 100- and 200-period averages.
Broader liquidation cascade tops $608 million
Beyond Bitcoin, the wider market absorbed about $608 million in liquidations across the same 24-hour window, with Ether longs taking the brunt of the damage. The single largest position wiped out was a $26.64 million bet on Binance's ETHUSDC pair, part of roughly $545 million in long liquidations against about $64 million in shorts.
Sources: CryptoSlate, Bitcoin News, Crypto Briefing
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