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BTC 
WBTC Bitcoin (BTC) plunged nearly US$7,000 due to selling pressure, undermining investor confidence.
Under the continued increasing selling pressure, Bitcoin has lost its value by approximately US$7,000 in the past three days, deeply worrying market participants. The cryptocurrency market leader tested resistance at $87,000 at the beginning of the week, but failed to maintain the gains and then fell back to the $80,400 level. The decline was triggered by factors such as the massive outflow of funds from the spot Bitcoin ETF, the transfer of Bitcoin positions by the U.S. government, the sell-off of miners, and the Federal Reserve's signal to raise interest rates. So why did Bitcoin fall? Is the bull market over? Here are six key reasons for this sharp correction.
1. The U.S. government's transfer of US$1.5 billion in Bitcoin triggered market shocks.
One of the primary factors accelerating the decline of Bitcoin was the transfer of crypto assets held by the U.S. government to the Coinbase Prime platform. According to data released by online analytics platform Lookonchain, the U.S. government completed the transfer of approximately $1.5 billion worth of Bitcoin and $62 million in wrapped Bitcoin (WBTC) in 72 hours. The transfer of the first batch of 834 bitcoins to Coinbase Prime has heightened investor concerns about a potential sell-off. It is worth noting that although Bitcoin prices fell by approximately 7% during the transfer period, these actions did not directly amount to an immediate market sell-off.
2. Bitcoin ETF capital outflows and miners 'sell-off increase downward pressure
The second important reason for the decline in Bitcoin prices was the large-scale net outflow of funds from the U.S. spot Bitcoin ETF. On October 7 and 8, the relevant funds recorded net redemptions of approximately $487 million and $244 million, respectively. The third major factor is the huge transfers and potential selling by Bitcoin miners. According to Lookonchain data, MARA Holdings may have disposed of 996 bitcoins worth approximately $81 million on October 8. Outflows from ETFs and miner-related selling concerns further worsened the overall sentiment in the cryptocurrency market.
3. Achieve US$1 billion in profit-taking in a single day
The fourth reason for Bitcoin's sharp correction is that investors have carried out large-scale profit-taking operations. Data from blockchain analytics firm Sanitation shows that the Bitcoin market achieved realized profits of approximately $1.03 billion in one day. This figure becomes the second-highest single-day profit-taking record in 2026. "Such increases are usually accompanied by short-and medium-term market cooling periods," Sanctuary pointed out in its assessment. The company believes that intensive profit-selling has increased market supply pressure and falling prices may accelerate the liquidation of leveraged positions. However, this in and of itself does not mean that a long-term downward trend has been established.
4. Geopolitical tensions and Fed policy expectations affect the market
比特币下跌的第五个因素涉及美国与伊朗之间地缘政治紧张局势的升温。美国总统唐纳德·特朗普此前关于可能对伊朗采取军事行动的言论，增加了全球市场的不确定性。随后，特朗普在11月3日中期选举前声明不会对伊朗发动袭击，从而缓解了部分市场焦虑。
第六个关键因素来自美联储（Fed）关于加息的信号。美联储理事克里斯托弗·沃勒表示，为实现2%的通胀目标，可能需要进一步的加息措施。尽管沃勒提到加息节奏具有灵活性，但紧缩货币政策的预期仍对比特币等风险资产构成了压力。
市场评估
比特币从87,000美元跌至80,400美元，表明加密货币市场中短期风险有所上升。然而，CryptoQuant首席执行官Ki Young Ju认为，此次下跌与比特币过往牛市中的调整并无本质区别。在他看来，这种剧烈的回撤并不意味着上升趋势的终结。未来，ETF资金流向、美国政府比特币持仓变动、美联储货币政策以及投资者的抛售行为，将成为决定比特币价格走势的关键变量。
