Analysis: Bitcoin briefly fell below $84,000 as active selling pressure and long liquidations intensified simultaneously

PANews reported on October 7 that CryptoQuant analyst Axel Adler Jr. said that in the early hours of October 7, Bitcoin fell from $85,500 to $83,900 before rebounding slightly to $84,100. The decline was accompanied by active sell orders dominating and forced liquidation of long positions.

Data shows that Bitcoin's taker buy/sell pressure oscillator once dropped to -4.9 before recovering to -3.1, indicating that active selling pressure has eased somewhat but bears still hold the advantage; meanwhile, the liquidation pressure oscillator fell from -11 to -78, reflecting that long liquidations dominated. The analysis noted that if Bitcoin's price remains below $83,900 while both indicators stay deeply negative, it could signal more sustained selling pressure in the market.