Bitcoin briefly rose to $83,335 on Oct. 20 after falling below $81,200 the previous evening, then settled near $82,500 by 12:45 p.m. ET. Bitcoin liquidations barely exceeded $76 million for the day; short positions accounted for nearly 60%, or $45.7 million.
Bitfinex analysts warned that a move below $79,821 could trigger more long liquidations and push bitcoin into a $77,600–$80,400 range before the Oct. 28 FOMC decision. They said leveraged positions were rebuilding despite weak spot demand, and estimated that net 30-day apparent demand remained slightly negative at about 50,000 BTC.
