Bitcoin (CRYPTO:BTC) fell below $87,000 on Monday after sell orders intensified shortly after Wall Street opened, accelerating a sharp intraday decline.
Market data showed BTC dropping to around $86,625, extending a period of choppy and uneven trading seen over recent sessions.
The sell-off triggered more than $200 million in liquidations of leveraged Bitcoin long positions within roughly an hour.
Traders said the speed of the move caught late bullish positioning off guard and rapidly shifted short-term market sentiment.
Binance and market maker Wintermute were cited by participants as notable sources of selling pressure during the downturn.
Many traders said technical indicators offered little evidence of an immediate rebound following the liquidation cascade.
Short-term traders described the move as a continuation of a broader volatile structure rather than a confirmed trend reversal.
“My only issue now is selling volume isn’t very high so we will likely catch another bounce around 84k, even if I still believe we get to 76k in due time,” Roman said.