Bitcoin Blasts Past $86K as Short Liquidations Soar

Bitcoin has reached its highest price since September 23rd at $86,857 after breaking through sell orders around $85,000.

The move was accompanied by a surge in short liquidations, with over $120 million worth of positions being closed out in the past 24 hours.

Data from CoinGlass shows a cluster of potential liquidations above $87,000 following the initial breakout, suggesting that liquidation exposure is concentrating at higher price levels.

According to Glassnode analysis, more robust Bitcoin ETF inflows would help confirm broader support for the BTC price uptrend. However, daily flows have cooled since September 21st when they hit a record high of $999 million.