Bitcoin Falls 8% in Two Days as Profit-Taking, Dollar Strength Weigh

Bitcoin (BTC) fell about 8% as profit-taking selling, a stronger dollar, spot ETF outflows and leveraged liquidations weighed on the token.
Rising U.S. Treasury yields have increased the investment appeal of Treasuries, prompting some investors to pull back from risk assets such as Bitcoin.
Still, short-term volatility should be distinguished from the long-term case for holding Bitcoin, citing continued adoption amid an expanding money supply and rising government debt, as well as its limited supply.

Forecast Trend Report by Period

Bitcoin fell to the $80,000 level as profit-taking and a stronger dollar weighed on the token. Outflows from spot exchange-traded funds and forced liquidations of leveraged positions also deepened the slide.

On October 8, Bitcoin fell as low as $80,395 intraday on Binance's Tether market. That marked a drop of about 8% from roughly $86,698 on October 6. Bitcoin was recently trading around $81,700.

Selling by traders looking to lock in gains after the recent rally added pressure. Forbes cited CryptoQuant Head of Research Julio Moreno as saying traders' on-chain unrealized profit margin reached 33% last week, the highest since December 2024. Over the same period, Bitcoin holders realized gains worth 25,700 Bitcoin, the largest amount this year.

Bitcoin Falls 8% in Two Days as Profit-Taking, Dollar Strength Weigh

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