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Investing.com — Bitcoin remained above $83,000 on Sunday, roughly 34% below its record high, as investors marked one year since a historic $19 billion cryptocurrency liquidation event.
The world’s largest cryptocurrency was trading at $83,062.8 as at 01:23 ET (05:23 GMT), having failed to recover its October 6, 2025, peak of $126,080.
The anniversary follows another volatile week in which Bitcoin fell to $80,308 before recovering towards $83,000, highlighting persistent concerns over leveraged trading.
On October 10, 2025, Bitcoin plunged from approximately $122,000 to $105,000 after President Donald Trump announced sweeping tariffs on Chinese imports.
The selloff triggered more than $19 billion in liquidations across cryptocurrency markets, affecting approximately 1.6 million trading accounts.
Analysts warn that the conditions behind the crash remain largely intact, particularly the widespread use of perpetual futures and heavily leveraged positions.
Mark Connors of Risk Dimensions said derivatives positioning continues to influence Bitcoin’s short-term price movements, despite improvements in market transparency.
Recent positioning data suggests approximately $3.3 billion in Bitcoin short positions could face liquidation if prices climb towards $85,000, potentially accelerating any recovery.
Institutional demand has also weakened, with US spot Bitcoin exchange-traded funds recording more than $700 million in outflows this week.
Despite the market’s struggles, Bitwise Asset Management Chief Investment Officer Matt Hougan remains optimistic about Bitcoin’s long-term prospects.
Hougan suggested Bitcoin’s market capitalisation could eventually reach $30 trillion, drawing comparisons with gold’s expansion following the introduction of exchange-traded funds.
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Such an outcome would represent a substantial increase from Bitcoin’s current market value of approximately $1.66 trillion, although the forecast remains speculative.
Corporate adoption continued this week, with Robinhood reportedly adding $25 million in Bitcoin to its balance sheet.
Meanwhile, US government-linked wallets transferred approximately $1 billion in Bitcoin on Thursday, following earlier transfers totalling $770 million. The purpose of the movements remains unclear.
The combination of institutional adoption and persistent leverage risks underscores Bitcoin’s competing market forces.
Source: finance.yahoo.com