Bitcoin falls below $83,000, dragging down Strategy, Coinbase, and Robinhood stocks

Bitcoin (BTC-USD) prices tumbled more than 3% to $83,000 on Wednesday, sending crypto-related stocks lower as forced long liquidations added to a broader market sell-off. The token hovered below $83,000 after a swift crypto sell-off triggered roughly $696 million in liquidations over 24 hours, with long-positioned traders bearing almost all of the losses, according to Coinglass data. The vast majority of the damage occurred over a 12-hour window, driven primarily by forced unwinds of Ether (ETH-USD) and bitcoin positions. The pullback follows bitcoin's rally in early October to its highest price level since January.