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Bitcoin dips below $84,000 as $143 million in futures liquidations hit
US spot Bitcoin ETFs logged $118.8 million in net inflows on October 6, but leveraged futures positions still faced margin liquidations after prices slid under $84,000.
Bitcoin’s October 7 morning readings showed about $143 million in Bitcoin futures positions liquidated over the prior 24 hours, with the market dipping below $84,000. CryptoSlate reported a 24-hour range that included a low of $83,647 and a price around $84,288 during EU trading hours, down 1.25% over 24 hours.
CryptoSlate said the positive US ETF session did not indicate whether leveraged futures positions would survive margin tests, noting that liquidation is tied to the trader’s margin position as prices change. It added that Bybit’s liquidation rules use the mark price, the exchange’s reference price for margin calculations, rather than the last trade.
CryptoSlate also pointed to fund flows, saying US spot Bitcoin ETFs recorded $118.8 million in net inflows for October 6, following a net outflow on October 5, according to Farside Investors. The outlet cautioned that an ETF inflow number alone does not show when or where an equivalent spot purchase occurred.
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