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Bitcoin Falls Below $85K in Worst Monthly Drop Since 2022 Crypto Winter

Bitcoin Falls Below $85K in Worst Monthly Drop Since 2022 Crypto Winter

Leveraged liquidations nearing $2 billion and sharp declines across major tokens underscore worsening sentiment amid global market weakness and institutional outflows.

BTC
SOL

Fact Check
The statement is assessed as highly likely to be true based on strong, consistent, and corroborating evidence from multiple sources. Several independent news outlets with high authority and relevance, including Bitget, CryptoBriefing, and ValueTheMarkets, all report the same key facts: that Bitcoin's price dropped below $90,000 and that this event triggered approximately $947 million in market liquidations. The consistency extends to the specific details, with some sources noting the price fell to as low as $89,700.The credibility of the claim is significantly bolstered by the fact that at least one high-authority source (Bitget) explicitly attributes the $947 million figure to the data aggregator Coinglass, a well-regarded primary source for this type of market data. While the provided Coinglass sources do not directly confirm this specific event in their summaries, their existence establishes the platform's authority and focus on liquidation data, lending weight to the reports citing them.There is no contradictory evidence among the relevant sources. The sources that do not support the claim are irrelevant because they discuss different market events or lack the specific figures mentioned in the statement. The convergence of consistent reporting from multiple independent publications, all pointing to a credible data source, provides high confidence in the accuracy of the statement.
Summary

Bitcoin fell below $85,000 for the first time since April, briefly touching $81,600 before stabilizing near $84,000, marking its steepest monthly decline since the 2022 crypto winter. CoinGlass reported nearly $2 billion in liquidations over 24 hours, affecting roughly 396,000 traders, including a $36.7 million BTC position on Hyperliquid. Ether and Solana saw weekly losses of 14% and 10% respectively, with smaller caps hit harder. U.S.-listed bitcoin ETFs experienced $900 million in net outflows on Thursday—their second-worst day since early 2024—while open interest in perpetual futures dropped 35% from October’s peak. The Crypto Fear & Greed Index fell to 11, indicating extreme fear, as global equity markets also recorded their worst week in seven months.

Terms & Concepts
  • Liquidation: The forced closure of a trader’s position due to insufficient margin to cover losses.
  • Open Interest: The total number of outstanding derivative contracts, such as futures, that have not been settled.
  • Crypto Fear & Greed Index: A sentiment indicator that measures the emotions of the cryptocurrency market, ranging from extreme fear to extreme greed.