Bitcoin News Today: A Year After the Peak, BTC Sits Near $85.8K Today
Bitcoin News Today: Key Factors Shaping the BTC Market in Uptober 2026
Today is October 6, exactly 365 days since Bitcoin hit its all-time high above $126,000. Bitcoin news today starts with a 4chan timing model that pegged this date as the exact cycle bottom. But Bitcoin already bottomed on June 30, just below $59,000, about 53% under the peak.
Source: X Official
BTC is now down around 32%, well above the 70% to 82% drawdowns seen after earlier peaks. The cycle may be following a different path this time, but bulls still face a key hurdle near $90,000, where Binance shows heavy sell orders, according to a CoinGlass chart shared by Crypto Rover on X.
The BTC price stood at $85,860.97, down 0.45% in 24 hours. The $90,000 level sits about 4.8% above spot.
Bitcoin News Today: Binance Whale Orders Pile Up Near the $90K Level
Large limit orders at round numbers are routine. They can reflect real supply from holders taking profit, or hedging by market makers. They can also be spoofing, where oversized orders rattle buyers and then vanish before price arrives.
Traders therefore treat visible walls as a sentiment signal, not a record of completed trades. Price only meets them if buyers lift the asks, and walls can be filled, absorbed or pulled. Binance's deep liquidity gives its book extra weight.
Glassnode Maps a $90K Short Liquidation Cluster as $172M Gets Wiped
Bitcoin crypto news this week has leaned on liquidation maps. Glassnode said on October 4 that the largest short liquidation cluster sits near $90,000, with smaller pockets near $83,000 and $75,000, per Glassnode’s previous post.
An exchange closes a leveraged position when margin runs short, and closing a short means buying back. The maps rely on estimated leverage, so the clusters are approximations. Bitcoin price risk showed up in the past 24 hours, per CoinGlass October 6 data:
Total liquidations: $161.17 million
Total Longs: $103.43 million
Total Shorts: $57.74 million
Bitcoin alone: $51.20 million
Bitcoin Price Today: Volume, and Market Cap
Bitcoin price today, per CoinMarketCap:
Price: $85,860.97, down 0.45%
24-hour range: roughly $85,100 to $86,600
Market cap: $1.72 trillion
24-hour volume: $25.72 billion, up 16.44%
Circulating supply: 20.09 million of 21 million BTC
Why is bitcoin price down today? Weaker spot demand and higher rates. U.S. spot ETFs recorded $89.8 million in net outflows on October 5, after a $189.9 million inflow on October 2 according to SoSoValue.
The 10-year Treasury yield has held between 5.26% and 5.34%, its highest range since 2002.
At the same time, September payrolls rose only 29,000, with unemployment at 4.2%.
Bitcoin Latest News: Strategy, Metaplanet and U.S. Banks Add Support
On the buy side, Bitcoin news today shows steady corporate demand. Michael Saylor’s Strategy bought 334 BTC between October 1 and 4 at an average $85,838.80, lifting holdings to 848,000 BTC, per its press release.
A day earlier, Metaplanet reported a net gain of 1,000 BTC for the third quarter, taking holdings to 44,000 BTC. It sold 10,000 BTC and bought back 11,000, a move it said showed lenders its coins can become cash.
Banks add another layer. Coinbase's Shan Aggarwal said major U.S. banks are raising Bitcoin exposure, with BlackRock and JPMorgan among those seeking stronger custody and trading infrastructure as rules clarify. The CFTC also joined the SEC in proposing crypto rules on October 5.
The record shows heavy leverage, slower ETF demand and sell orders at $90,000 that have not yet traded. Crypto news today works as a map of positioning, not a forecast. The next scheduled data points are the Fed minutes on October 7 and CPI on October 14, per the Fed calendar.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Crypto markets carry significant risk. Always do your own research before making any investment decisions.
