Bitcoin Surges Past $86,000 as Crypto Market Hits Record High

The cryptocurrency market has experienced a significant surge in recent days, with Bitcoin trading near $86,000. This increase in value is largely attributed to nearly $1 billion in U.S. spot Bitcoin ETF inflows and about $920 million in short liquidations, which have added buying pressure.

Crypto perpetual futures open interest has also reached around $160 billion, contributing to the market's upward momentum. As a result, the total crypto market value has surpassed $3 trillion for the first time since January, although it has since fallen back to about $2.95 trillion.