Bitcoin fell below the $82,000 mark on October 12, triggering the liquidation of roughly $120 million in long positions within just 15 minutes. These forced sales fed on themselves, with each automatic sell order adding further downward pressure on the price. A previous correction on October 8 had already sparked over $1 billion in liquidations within 24 hours, mostly on the long side. US spot Bitcoin ETFs saw outflows of $487 million in a single day. Traders are now watching a support zone between $81,300 and $82,000.
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