Why did Bitcoin price just hit two-month lows near $83K?

Bitcoin just got absolutely wrecked — diving below $85K to hit two-month lows as crypto joined a global market panic. BTC dropped nearly 6% in a single day, hitting $83,156 on Bitstamp and wiping out $500M in crypto positions in just four hours.

But here's the kicker: Bitcoin wasn't alone. Gold — which literally just hit a historic $5,600 high — absolutely imploded, losing $400 in 30 minutes. That's more value than Bitcoin's entire market cap. Silver followed suit. This isn't normal behavior for precious metals — it's a full-blown macro panic.

Nic Puckrin from Coin Bureau called the moves “insane” and warned this is a sign of deeper trouble: “Gold and silver just don’t do this... They are prepositioning. Get excited about metals, but realise these buys are essentially insurance. And, when gold and silver actually ‘do this,’ we need to pay attention.”

Earlier reports revealed a mysterious whale entity was actively suppressing Bitcoin price on exchange order books. Now, all eyes are on the monthly close. Keith Alan from Material Indicators says reclaiming the 2026 yearly open ($87.5K) is critical: “A monthly close above the Yearly Open will fuel hopium for bulls. A close below that Timescape Level ($87.5k) will puts us on a path to Bearadise.”