Bitcoin fell below $81,000 on October 8, with an intraday low near $80,800, triggering over $1 billion in liquidations over 24 hours with $930 million tied to long positions. The market anticipates a Fed pause in October, but futures pricing reflects an 85% probability of at least one rate hike by December, maintaining macroeconomic pressure on risk assets. Bitcoin needs to recover above the $85,500 level to confirm a bullish reversal, risking the next liquidation cluster around $75,000 if it fails to do so. Key upcoming events include September CPI on October 14 and the FOMC meeting on October 27-28.
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