Bitcoin Price Spikes to Highest Level Since September as Shorts Get Liquidated

Bitcoin's price surged on Friday, reaching its highest point since September 23rd as short liquidations exceeded $120 million over a 24-hour period.

The sudden spike in price saw Bitcoin test near $87,000 before easing back below $86,000. According to CoinGlass, BTC short liquidations totaled around $122 million in the past day, while overall crypto liquidation activity reached roughly $210 million.

The break above a key sell zone and resulting forced closures contributed to the rally. Glassnode pointed out that reduced ask-side liquidity above the $85,000 area allowed prices to move upward more efficiently.

A CoinGlass liquidation heatmap showed clustered exposure above $87,000 after the breakout. However, sustained confirmation of the uptrend may depend on renewed momentum in US spot Bitcoin ETF inflows, as emphasized by Glassnode.