Crypto liquidations reached $550 million on Wednesday, October 7, 2026, as Bitcoin fell below $84,000. More than $500 million of that came from long positions, so traders betting on higher prices took most of the losses.
According to TradingView data, BTC/USD fell by as much as 2.3% over two hourly candles. The price then recovered to around $84,000 by the time the report was written.
The drop came amid suspicion over leveraged BTC short positions that had appeared on Hyperliquid. The report does not say who opened those shorts, how large they were, or whether they caused the fall. Those questions are still unanswered.
For anyone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, this event changes nothing directly. The report gives no funding rates, fee changes or liquidity data for these exchanges, and it does not say where the liquidations took place. A position that was not liquidated is subject to the same fee schedule as before. Any effect on funding has not been reported.
Source: cointelegraph — Crypto liquidations hit $550M as Bitcoin price dips below $84K
Price today: Bitcoin · Hyperliquid