Bitcoin dropped by nearly $7,000 in three days, falling from around $87,000 to $80,400 before rebounding. The move was triggered by the US government transferring massive amounts of bitcoin to Coinbase Prime, depositing approximately $1.5 billion in BTC and $62 million in WBTC over three days. Bitcoin ETF outflows reached $487 million on October 7 and $244 million on October 8, while MARA Holdings sold nearly $81 million in BTC. Investors realized over $1 billion in profits, marking the second-highest profit-taking day of 2026, and macroeconomic concerns including geopolitical tensions and Fed commentary added to selling pressure.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
