Key Takeaways
- Bitcoin fell below $82,000 Monday as $488.61 million in crypto liquidations hit 118,142 traders.
- Coinglass data shows bullish positions accounted for $406.48 million, or 83.2%, of liquidations.
- Ethereum, solana and XRP joined bitcoin’s decline as investors awaited Wednesday’s CPI report.
Bitcoin’s Slide Wipes Out 118,000 Crypto Traders
On Monday, Oct. 12, 2026, bitcoin’s price slipped below the $82,000 threshold, extending a decline that had dragged the cryptocurrency down from an earlier high near $84,254. By approximately 7:30 p.m. Eastern time, Coinglass liquidation figures showed $488.61 million in leveraged crypto positions had been wiped out over 24 hours.
The damage reached 118,142 traders, with long positions accounting for $406.48 million and shorts contributing $82.14 million. Put differently, more than $83 of every $100 liquidated came from traders betting on higher prices. Ethereum led individual assets with $115.19 million in liquidations, followed by bitcoin at $106.61 million.
Coinglass Liquidation Snapshot | Oct. 12, 2026
| Metric | 24-Hour Total |
|---|---|
| Total Liquidations | $488.61M |
| Long Liquidations | $406.48M (83.2%) |
| Short Liquidations | $82.14M (16.8%) |
| Traders Liquidated | 118,142 |
| Bitcoin (BTC) | $106.61M |
| Ethereum (ETH) | $115.19M |
| Solana (SOL) | $26.97M |
| Largest Single Liquidation | $9.65M (BTC Long) |
Source: Coinglass, Oct. 12, 2026, 7:30 p.m. Eastern time.
The crypto asset solana (SOL) contributed another $26.97 million, while zcash and NEAR registered approximately $19.86 million and $19.81 million, respectively. Binance accounted for 52.3% of the total. The largest individual liquidation was a $9.65 million bitcoin long position on Binance, executed at $81,772.
Four Factors Driving Bitcoin’s Latest Decline
Bitcoin’s retreat below $82,000 appears to reflect five overlapping pressures, ranging from institutional withdrawals to macroeconomic uncertainty and a fresh wave of leveraged liquidations.
1. Spot bitcoin ETF Outflows: U.S. spot bitcoin exchange-traded funds (ETFs) recorded approximately $679 million to $681 million in net outflows during the Oct. 5-9 trading week. The withdrawals weakened a source of institutional demand that had previously helped support bitcoin’s price.
2. Elevated Treasury Yields: The benchmark 10-year U.S. Treasury yield climbed toward 5.24% to 5.3%, making interest-bearing assets more attractive relative to bitcoin. Higher borrowing costs and expectations of restrictive Federal Reserve policy have also weighed on investors’ appetite for risk.
3. Rising Oil Prices and Geopolitical Tensions: Elevated crude oil prices, fueled partly by renewed Middle East tensions, have complicated the inflation outlook. Higher energy costs threaten to keep consumer prices elevated, potentially limiting the Federal Reserve’s flexibility on interest rates.
4. Inflation Anxiety and Technical Weakness: Investors are approaching Wednesday’s consumer price index (CPI) report cautiously, with producer price index (PPI) data scheduled for Thursday. Meanwhile, bitcoin’s repeated failure to reclaim the $84,000 to $87,000 range has shifted attention toward support between $81,000 and $82,000.
Together, these pressures have left bitcoin’s price struggling to regain momentum. Wednesday’s inflation figures could determine whether the latest retreat remains contained within its established trading range or develops into a deeper correction.
Ethereum, Solana and XRP Join the Retreat
Bitcoin wasn’t alone. Ethereum’s price traded near $2,461, down 2.79% over 24 hours and 9.34% over seven days. SOL changed hands around $106.16, losing 4.39% daily and 12.09% weekly. XRP declined 4.33% to $1.34, while dogecoin (DOGE) slipped 4.02% to approximately $0.08311.
Top 8 Cryptocurrencies by Market Cap
Oct. 12, 2026 | 7:30 p.m. Eastern time
| Cryptocurrency | 24H Change | 7D Change |
|---|---|---|
| Bitcoin (BTC) | -1.90% | -4.56% |
| Ethereum (ETH) | -2.79% | -9.34% |
| BNB | -2.22% | -6.53% |
| XRP | -4.33% | -10.80% |
| Solana (SOL) | -4.39% | -12.09% |
| TRON (TRX) | -0.29% | -2.17% |
| Hyperliquid (HYPE) | -5.44% | -13.19% |
| Zcash (ZEC) | -5.82% | -10.51% |
Source: Market snapshot, Oct. 12, 2026.
Hyperliquid (HYPE) and zcash (ZEC) suffered even steeper daily declines of 5.44% and 5.82%, respectively. Attention now turns to Wednesday’s U.S. consumer price index (CPI) report, scheduled for Oct. 14, followed by producer price data on Thursday.
With bitcoin struggling to reclaim $84,000 and support being tested between $81,000 and $82,000, traders face an uncomfortable question. Has the market cleared enough leverage to stabilize, or will inflation data deliver another round of forced liquidations?
