Bitcoin Breaks Through $85,000 Resistance, Eyes $88,000

Bitcoin broke the $86,000 barrier after a week of struggling to clear the $85,000 resistance zone.

According to Binance data, the price of BTC surged to $86,565, representing a 3% increase over 24 hours.

The move was fueled by reduced sell liquidity and short liquidations, which strengthened the breakout.

Derivatives positioning also amplified the move, with $45.96 million in Bitcoin shorts liquidated within one hour.

As a result, the immediate technical question centers on whether buyers can defend the former breakout area, with support levels around $85,500 and $84,500 being closely watched.