Bitcoin drops under $83K as liquidity hunting keeps bulls from targeting yearly open
Bitcoin joined US stock futures in dropping on Monday after US president Donald Trump did not commit to permanently halting strikes on Iran.
Bitcoin experienced a drop under $83,000 on Monday after US President Donald Trump remained silent on ending strikes against Iran. The cryptocurrency failed to surpass its eight-month highs above $87,000. Liquidity hunting contributed to the decline, with over $30 million in ask liquidity concentrated around $85,700, indicating large traders attempting to manipulate the price.
CoinGlass data showed that the drop liquidated approximately $70 million worth of long positions within 24 hours. US stocks futures also fell, and WTI crude oil surpassed $95 per barrel for the first time since September 24. The $85,700 price level obstructed a resurgence towards the 2026 year-open at $88,700. Prior to the weekly close, trader Aksel Kibar cautioned that Bitcoin's performance did not signify a decisive breakout and that a return inside the range between $60,000 and $80,000 was possible.
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