Bitcoin falls to $83,400 as futures deleveraging drives yearly low

Bitcoin slipped to $83,400, falling to a new yearly low below $84,000 during the New York trading session, Cointelegraph reported. The drop erased the cryptocurrency's early-year gains and was linked to aggressive futures deleveraging rather than sustained selling in spot markets: taker sell volume surged to about $4.1 billion across exchanges in roughly two hours, and the move wiped $570 million in long positions.

BTC remains trapped inside a 10-week consolidation range that has capped prices since Nov. 17, 2025, with weekly closes bounded between $94,000 and $84,000. Technical tests around $83,800 failed to hold a rebound, and some analysts have shifted potential downside targets toward the November low near $80,600.

Derivatives metrics and onchain trackers underscored the leverage dynamic. CryptoZeno noted a market-structure shift after mid-2025 expansion, with returns down 26% since last July, while Cointelegraph cited repeated 8–10% declines in futures open interest that have coincided with local price lows earlier in 2025.

Onchain tracker Lookonchain highlighted the impact on a prominent trader: "The market just crashed, and #BitcoinOG (1011short) is taking heavy losses on his massive long positions.

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