Bitcoin Price Forecast: What Happens? Why Bitcoin Drops to $84,000?

In this Bitcoin price forecast, BTC trades near $84,150 on October 7, down 1.62% in 24 hours, after a rally toward $87,000 stalled at resistance. The pullback puts the $84,500 support zone back in focus. Traders are weighing whether this is a routine dip or the start of a deeper break. The reversal followed a sharp derivatives flush. Over 24 hours, $549.52M was liquidated across crypto, and 101,240 traders were wiped out. Longs made up $479.63M, about 87% of the total. Bitcoin accounted for $142.62M, and $451.11M of the total came in the last 12 hours. The last four hours were calmer, at $11.77M and mostly shorts. The rebound that came before the drop had been supported by weaker-than-expected U.S. employment data. That eased rate-hike expectations and pushed Treasury yields lower. Macro relief can lift prices without clearing the overhead supply, and that is what happened here. Leverage has not fully cleared either. Funding is still slightly positive at 0.0017%, and open interest is $55.29B, against $59.26B in 24-hour volume. Join Coinspeaker’s $1,000 Prize Drop on BybitBitcoin Price Forecast: Can BTC Reclaim $87,000 This Week? BTCUSDT chart 1D On the daily chart, Bitcoin trades a...