Key points

• BTC/USD dropped below $82,700 for the first time since Sept. 21, per TradingView data.
• Over $30 million in ask liquidity appeared around $85,700, blocking a push higher.
• Around $70 million in long positions were liquidated over 24 hours, CoinGlass data showed.
• Nasdaq futures fell 0.9% and WTI crude passed $95 a barrel after Trump's remarks.
• Trader Aksel Kibar warned Bitcoin risked returning to its $60,000 to $80,000 range.

Bitcoin fell below $83,000 on Monday as a drop in risk appetite and heavy sell-side liquidity pushed the market to weekly lows. The largest cryptocurrency slid under $82,700 for the first time since Sept. 21, according to TradingView data cited by CoinTelegraph. The move came alongside weakness in US stock futures after President Donald Trump would not commit to permanently halting strikes on Iran.

The decline followed a strong weekly close. Bitcoin had ended the week at around $84,450, its highest weekly close since late January, but failed to retest the eight-month highs above $87,000 reached earlier. Instead, more than $30 million in ask liquidity clustered around $85,700, a wall of sell orders that capped the price. CoinTelegraph noted that sudden, conspicuous liquidity at a level often signals an attempt by large traders to steer direction.

The reversal liquidated nearby long positions. CoinGlass data showed roughly $70 million in longs wiped out over 24 hours at the time of writing. The $85,700 level blocked any renewed push toward the 2026 year-open price of $88,700, where the market had stalled the previous week.

Bitcoin hits weekly lows

Macro headlines added to the pressure. Trump was asked on Sunday whether he would rule out further military action against Iran and declined to do so, saying it was possible but that he did not want to say. Fox News carried the remarks, made at the PGA Tour Presidents Cup. Nasdaq futures were down 0.9% on the day, while WTI crude oil traded above $95 a barrel for the first time since Sept. 24.

Market commentators had already flagged caution. Trader Aksel Kibar said before the weekly close that Bitcoin's price action did not look like a decisive breakout, even before the drop below $83,000. He wrote on X that hesitant price action could send the price back inside its range, referring to the $60,000 to $80,000 area where BTC/USD traded for much of 2026.

For bulls, the next hurdle is the yearly open at $88,700, which has so far proved too strong to clear. The combination of geopolitical uncertainty, rising oil prices and thick ask liquidity has kept momentum in check. CoinTelegraph reported that the liquidity hunting on exchange order books is what prevented buyers from targeting that yearly open level.

Liquidity caps the upside

The episode highlights how sensitive crypto remains to macro and geopolitical news. With US equity futures weaker and crude oil climbing, traders are watching whether Bitcoin can hold above the $80,000 boundary that has defined its range for much of the year.

Read the full article on CoinTelegraph →