Bitcoin Price Slips as Saylor's Bull Market Call Meets Reality

Bitcoin’s price broke from the mid-$83,000 range almost immediately after, briefly touching approximately $81,500 before recovering toward $81,950. At 1:30 p.m. Eastern time, the leading crypto asset is exchanging hands for $81,758 per coin. Trading volume intensified during the decline, suggesting the retreat involved substantial selling rather than an ordinary bout of market indecision.

Traditional markets weren’t spared. The S&P 500 slipped approximately 1%, the Nasdaq Composite shed more than 1%, and technology shares faced renewed pressure. Meanwhile, crude oil near $95 per barrel added another inflationary complication.

Nearly 89,000 Traders Caught in Crypto Liquidation Rout

The real fireworks erupted in cryptocurrency derivatives markets, where heavily leveraged bullish positions were caught flat-footed. Coinglass figures on Wednesday afternoon showed approximately $331.03 million in liquidations over 24 hours, including $288.32 million during the preceding 12 hours.

Nearly 88,886 traders had positions forcibly closed, with long positions accounting for approximately 82% of the total. Bitcoin accounted for roughly $69.95 million in liquidations, with 80.9% involving longs. Ethereum ($ETH) followed with $64.33 million, including 82.6% in bullish positions. Binance represented approximately 49% of exchange liquidations, while the largest individual wipeout involved a $7.03 million ETHUSDT long position.

As bitcoin cracked support between $82,000 and $83,000, forced selling compounded the original decline. Leveraged traders effectively became additional sellers at precisely the moment buyers were retreating.

Saylor Declares the Bear Market Dead as Bitcoin Takes Another Hit

The timing delivered an almost theatrical contradiction. During a Bloomberg Television interview on Oct. 13 at DC Fintech Week, Strategy Chairman Michael Saylor maintained that bitcoin’s bear market had ended, arguing that its recovery from below $60,000 marked the beginning of another bullish cycle.

“We think we’re at the beginning of a bull market,” Saylor remarked on the broadcast. “I think we hit the bottom around slightly below 60,000. I think we bounced off it. Now, we are moving up into the 80s. I think we will march forward from here,” the Strategy founder added.

Saylor expects bitcoin to reclaim $100,000 and envisions average annual appreciation of 20% to 30% over the next two decades. His optimism rests on expanding institutional adoption, improving U.S. cryptocurrency regulation, growing bank participation, and the development of digital credit markets. At the same time, prediction markets do not envision six-digit bitcoin prices in 2026.

Strategy, meanwhile, remains committed to accumulating bitcoin, with holdings standing at 848,250 $BTC today. Saylor indicated that purchases could accelerate as market conditions improve.

Bitcoin’s $81,000 Support Faces Its Next Test

Beyond Wednesday’s inflation surprise, bitcoin has confronted softer exchange-traded fund (ETF) flows, persistent selling pressure, and mounting competition from higher-yielding traditional assets. As of today, the leading cryptocurrency remains approximately 35% below its October 2025 record, just above $126,000, leaving the $81,000 to $82,000 region as an important short-term battleground.

A sustained break below that territory could invite additional selling, while a recovery above $83,000 would offer buyers an opportunity to rebuild momentum. For Saylor, the bear market is already history. For traders watching $331 million disappear in liquidations, Wednesday offered a considerably less comforting interpretation of where the market stands. By 1:51 p.m. ET, $BTC’s price was hanging awfully close to the intraday low at $81,555 per coin.