Bitcoin Price Soars 1.32% to $86,381 Amid $45 Million Short Liquidation

Bitcoin's price surged 1.32% in just one hour to reach $86,381 on October 2nd at 1:21 p.m. ET (17:21 UTC). This sudden rise came as short liquidations across Binance, Bybit, and OKX totaled a staggering $45.96 million during the same hour.

The price had been $85,260 just an hour earlier, indicating a sharp upward momentum for Bitcoin. Over 24 hours, the cryptocurrency was up 3.17% at the time of measurement.

Interestingly, long liquidations across the three exchanges totaled a mere $10,000 in the same hour, suggesting that the short sellers were largely responsible for the price increase.