By GlobalDeskNews Staff | October 4, 2026
Bitcoin Price Crashes Below $84K After Hitting $87K — $570M Liquidated in 24 Hours
Bitcoin tumbled below $84,000 on October 2, 2026, hours after briefly topping $87,000 — triggering over $570 million in crypto liquidations in 24 hours as leveraged long traders were caught off guard.
What happened
Bitcoin jumped from $86,000 to $87,200 almost immediately after a softer-than-expected US jobs report, which lifted risk assets. But the rally was short-lived — the price was rejected at the multi-day peak, fell to $85,500, then accelerated downward below $84,000.
Total crypto liquidations surpassed $570 million in 24 hours, with $186 million liquidated in a single hour. Long positions accounted for 99% of that hourly figure, according to CoinGlass data.
The total crypto market cap shed almost $80 billion from its peak, dropping to $2.88 trillion.
Altcoins follow
Altcoins followed Bitcoin's decline: Ethereum tapped $2,750, XRP fell from $1.55 to $1.45, and ZEC, DOGE, LINK, XMR, and ADA posted losses of up to 7% daily.
Current price
As of October 4, Bitcoin is trading around $84,700 — up slightly (+0.16%) over 24 hours but well below the $87,000 peak. Analysts are watching $85,000–$85,500 as the nearest resistance zone and $84,000–$84,300 as near-term support.
Coinbase CEO calls the bottom
Coinbase CEO Brian Armstrong said in a Bloomberg interview that he believes Bitcoin has hit its cycle bottom. Bitcoin peaked near $124,800 in October 2025, then slid to about $60,100 by June 2026 — a 51.8% drop. As of October 2, it was back to roughly $85,200, up 41.6% from June's low.
US spot Bitcoin ETFs now hold about 1.29 million BTC — roughly 6.1% of Bitcoin's maximum supply — worth approximately $109.3 billion.