Bitcoin spikes near 83k, shorts lose 45 million in one day

Bitcoin briefly touched 83 335 dollars on Tuesday morning before easing back to the 82 500 area. The quick move pushed its market cap close to 1.67 trillion at the peak.

The rally mainly punished short sellers. Out of roughly 76 million dollars in Bitcoin liquidations, shorts accounted for 45.7 million. Across the wider crypto market, shorts lost 171 million while longs lost just over 125 million.

Bitfinex analysts see fresh risk ahead. Futures open interest rose 4.3 percent even as prices fell, showing traders are rebuilding leveraged bets. A break below 79 821 could trigger another cascade and push the price into the 77 600–80 400 accumulation zone.

Spot demand stays soft, with a net 30-day figure near minus 50 000 BTC. New large holders now represent a third of whale realized capitalization, yet the market still lacks steady buying pressure. Analysts lean toward a bearish path into the October 28 FOMC meeting.

Based on information from cryptonews.net