Bitcoin fell from $85,500 to $83,900 before edging back to $84,100, according to CryptoQuant analyst Axel Adler Jr., who said the move was driven by aggressive sell orders and forced liquidations of long positions. The readout points to a market where sellers remain in control even after a modest rebound.
Adler said the Taker Order Pressure Oscillator dropped to -4.9 before recovering to -3.1, a sign that active selling pressure eased somewhat but that bears still held the upper hand. At the same time, the Liquidation Pressure Oscillator slid from -11 to -78, indicating that long liquidations were the dominant force during the decline.
His assessment adds a clear level for traders to watch. If Bitcoin stays below $83,900 and both indicators remain deeply negative, the market could face more persistent selling pressure. The analysis was cited by ChainCatcher in a market update published on Oct. 7, 2026.
Bitcoin dropped from $85,500 to $83,900 and then saw a slight rebound to $84,100, according to CryptoQuant analyst Axel Adler Jr.
Adler said the decline came with aggressive sell orders taking the lead and forced liquidations of long positions.
Two market indicators stayed in negative territory
Data showed that the Taker Order Pressure Oscillator fell to -4.9 before recovering to -3.1. That suggests active selling pressure eased somewhat, but sellers still retained the upper hand.
The Liquidation Pressure Oscillator also moved lower, falling from -11 to -78, which pointed to long liquidations as the dominant force in the move.
$83,900 remains the key level to watch
The analysis said Bitcoin could face more persistent selling pressure if the price remains below $83,900 and both indicators stay deeply negative.
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