Bitcoin Tumbles to $84,600 as $433M in Liquidations Hit Longs

The price of Bitcoin (BTC) plummeted to $84,600 on October 3, 2026, after a failed rally to $87,100 the previous day. The sudden reversal triggered over $433 million in liquidations across the crypto derivatives market, with long positions absorbing three-quarters of those losses.

The 24-hour low of $83,898.29 is a key level for Bitcoin, and a sustained move below this price would confirm the $87,085.81 peak as a lower high. If this happens, the next wave of liquidations would likely occur below the market, not above it.

Despite the recent decline, open interest remains high, suggesting that a sharp move in either direction could trigger another round of forced closures. The Federal Reserve's upcoming meeting on October 27 and 28 will be a major macro event to watch, and Bitcoin's price could be influenced by the direction of U.S. interest rates.