October 10: Has the crypto market stabilized again?
October 10 last year was considered one of the most devastating liquidation days in the crypto market: more than 1.6 million accounts were liquidated, with a total value exceeding $19 billion in just 24 hours.
This year, however, the market is showing calmer price action.
BTC is currently hovering around $82,600, recovering slightly and moving sideways after its recent decline. Liquidations are down about 85% from the previous day, the Fear & Greed Index is at 56 — neutral. The Long/Short ratio is close to 50/50, while ETF flows show signs of a slight outflow.
This suggests the market is shifting from a period of intense cleansing to a more balanced state. However, stability doesn’t mean the risks have disappeared.
Structurally, the medium-term uptrend has not been fully broken, but momentum has weakened. In the short term, buyers and sellers are locked in a tug-of-war, with neither side clearly in control.
This weekend, I’ll focus on watching three factors:
Resistance: $83,300. If BTC breaks above this level and holds, buying pressure may improve.
Support: $81,700. If this level breaks, selling pressure could return.
Consolidation range: $82,000–$83,000. This is the area to watch for price reactions to assess the next move.
My plan for now is to prioritize observation and avoid rushing to chase short-term moves up or down. If the price hasn’t confirmed a direction, staying on the sidelines is also a trading decision.
The market is calmer, but don’t mistake calm for a clearly established trend.
Manage your capital carefully, limit leverage, and wait for confirmation before acting.
This analysis is for informational purposes only and is not investment advice.
October 10 last year was considered one of the most devastating liquidation days in the crypto market: more than 1.6 million accounts were liquidated, with a total value exceeding $19 billion in just 24 hours.
This year, however, the market is showing calmer price action.
BTC is currently hovering around $82,600, recovering slightly and moving sideways after its recent decline. Liquidations are down about 85% from the previous day, the Fear & Greed Index is at 56 — neutral. The Long/Short ratio is close to 50/50, while ETF flows show signs of a slight outflow.
This suggests the market is shifting from a period of intense cleansing to a more balanced state. However, stability doesn’t mean the risks have disappeared.
Structurally, the medium-term uptrend has not been fully broken, but momentum has weakened. In the short term, buyers and sellers are locked in a tug-of-war, with neither side clearly in control.
This weekend, I’ll focus on watching three factors:
Resistance: $83,300. If BTC breaks above this level and holds, buying pressure may improve.
Support: $81,700. If this level breaks, selling pressure could return.
Consolidation range: $82,000–$83,000. This is the area to watch for price reactions to assess the next move.
My plan for now is to prioritize observation and avoid rushing to chase short-term moves up or down. If the price hasn’t confirmed a direction, staying on the sidelines is also a trading decision.
The market is calmer, but don’t mistake calm for a clearly established trend.
Manage your capital carefully, limit leverage, and wait for confirmation before acting.
This analysis is for informational purposes only and is not investment advice.