Uniswap’s token dropped 3.09% over a 24-hour window to reach USD 7.73 as the wider digital asset market retreated. UNI dipped past the USD 8 mark after previously slipping under the USD 9 support level during an earlier round of selling. Data from CoinGlass covering the prior trading phase indicated that long liquidations surpassed USD 5.7 million, alongside USD 61 million in net futures outflows as the token headed downward.
Uniswap Price Extends Losses Below USD 8
UNI’s most recent drop came on the heels of a more pronounced retreat noted in a prior market report, where the asset changed hands near USD 8.19 following a 9.16% loss while volume increased by 39%. Bearish pressure forced the token down to roughly USD 8.00 after it failed to hold its USD 9 floor.
At USD 7.73, Uniswap fell beneath the previous session’s documented low. The recent 3.09% drop and the preceding 9.16% decrease occurred across distinct rolling intervals, reflecting UNI’s downward trajectory over consecutive market assessments.
Bitcoin also experienced downward pressure amid the broader market downturn. An update on October 8 pegged BTC at USD 82,652.75, representing a 24-hour loss of 1.8%. Its daily trading span stretched from USD 82,317.68 to USD 84,340.14, leaving the premier cryptocurrency beneath the USD 84,000 threshold alongside the declines seen in UNI.
U.S. spot Bitcoin exchange-traded funds registered roughly USD 487 million in net outflows on October 7. BlackRock’s IBIT led with approximately USD 208 million, while Fidelity’s FBTC saw USD 105 million withdrawn. These outflows arrived on the heels of approximately USD 119 million in net inflows recorded the day prior.
Long Liquidations Accompany Futures Withdrawals
CoinGlass metrics cited in the earlier review showed that exchanges liquidated more than USD 5.7 million worth of UNI long positions across a 24-hour period. Long positions profit when asset values climb, and platforms automatically terminate these leveraged positions when traders fail to maintain sufficient collateral following losses.
Throughout that same timeframe, UNI futures registered USD 312 million in outflows compared to USD 251 million in inflows. This created a negative net flow of USD 61 million, indicating that withdrawals outpaced deposits across the monitored derivatives accounts.
These futures metrics aligned with the earlier slide toward roughly USD 8.19. The aggregate liquidations and account movements pertain to the preceding reporting interval, prior to the latest price update that brought UNI under USD 8.
Concurrently, spot net flows hit a negative USD 8.89 million, indicating that more UNI departed tracked trading platforms than arrived during the timeframe. Exchange withdrawals typically diminish the supply accessible for trading, though such transfers may reflect either freshly acquired tokens or existing inventories shifting to external wallets.
UNI Support Levels and Inflation Data Remain in Focus
Market analysis indicates that USD 7.40 serves as the closest support level, with USD 7.00 following behind. The 50% Fibonacci retracement hovers near USD 7.96, acting as a resistance barrier positioned above the current price. At the time, UNI was priced USD 0.33 above support and USD 0.23 below resistance.
The relative strength index reading registered at 36.62, resting underneath the neutral 50 centerline. An RSI dipping below 30 typically signifies oversold conditions. Previous chart evaluations additionally highlighted fading MACD momentum alongside a bearish crossover within the Stochastic Momentum Index, with both metrics signaling persistent downward momentum.
The U.S. Bureau of Labor Statistics is scheduled to publish September consumer price figures on October 14 at 8:30 a.m. ET. This upcoming inflation report will deliver fresh metrics on consumer price shifts ahead of the Federal Reserve’s policy gathering slated for October 27–28.
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