{
  "id": 16025323,
  "title": "Live updates: Bitcoin’s round trip to $85,000 burns traders on both sides",
  "url": "https://urgent.news/2026/10/22/live-updates-bitcoins-round-trip-to-85-000-burns-traders-on-both-sides",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-22T09:54:26.000Z",
  "source": {
    "name": "CoinDesk",
    "slug": "coindesk",
    "url": "https://www.coindesk.com/business/2026/10/22/live-updates-bitcoin-s-round-trip-to-usd85-000-burns-traders-on-both-sides"
  },
  "original_language": "en",
  "account": "Bitcoin experienced a dramatic price swing on Wednesday, reaching nearly $85,000 before plummeting back to around $81,800, resulting in a $3,000 round trip in just one day and a 2% decline over 24 hours. This volatility was evident in liquidations, with CoinGlass reporting approximately $431 million wiped out over the day, with $173 million alone impacting short sellers during the price surge. The most significant loss was an $11.8 million long position on Binance, closed near $83,500. Other cryptocurrencies also took a hit, with Dogecoin (DOGE) down nearly 4% and Solana (SOL) falling 3%, while Ether (ETH) slipped 2% to just under $2,400. Despite the downward trend, XMR surged 11% to approximately $650. This price action brought Bitcoin below the $82,500 threshold, a level some analysts warn could open the door to a potential $70,000 drop if breached. Tech stocks provided no respite, with the Nasdaq 100 futures falling 1.1% following Tesla's revised spending forecast and Lam Research's weakened outlook.",
  "summary": "Bitcoin gave back its run at $85,000 and broke below $82,500 as weak tech earnings soured the mood. XMR bucked the drop with an 11% jump.",
  "key_points": [
    "Bitcoin surged to $85,000 before dropping to $81,800, a $3,000 round trip.",
    "$431 million wiped out in liquidations, $173 million affecting short sellers.",
    "Dogecoin and Solana fell, Ether slipped, XMR surged 11% to $650."
  ],
  "editors_take": "Extreme intraday volatility forces massive liquidations across the cryptocurrency market, punishing both aggressive long and short positions while threatening to break critical support levels for Bitcoin.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}