Bitcoin Surges 6.7% in Single Trading Day on ETF Demand, Short Liquidations
Bitcoin's price surged by 6.7% in just one trading day, breaking through the $81,000 resistance zone and reaching a new high of $86,600 according to CryptoQuant's on-chain data.
The three catalysts driving this rapid increase were spot ETF demand, short liquidations above $81,000, and thin historical supply overhead, each amplifying the other in a simultaneous convergence. Spot Bitcoin ETFs create real buy pressure by purchasing actual BTC from the open market, unlike derivatives which can be offset by short positions.
Short liquidations above $81,000 triggered a forced-buy cascade as derivatives positions betting on a continuation lower were automatically closed, adding momentum to the upside break and converting bearish positions into market buy orders at precisely the moment when supply overhead was thinnest.