Bitcoin Surges to $86,857 as Short Liquidations Top $120 Million

Bitcoin's price surged on Friday, reaching its highest point since September 23rd at $86,857. The cryptocurrency broke through a cluster of sell orders around $85,000, allowing it to move up faster and potentially paving the way for further gains.

Data from CoinGlass shows a concentration of potential liquidations above $87,300 following the initial breakout, suggesting that liquidation exposure was accumulating at higher price levels. The BTCUSDT liquidation heatmap on Binance also indicates a significant increase in short liquidations over the past 24 hours, totaling $122 million.

According to Glassnode, more robust Bitcoin ETF inflows would help confirm broader support for the BTC price uptrend. However, daily flows have cooled since September 21st when they hit their highest point in almost a year at $999 million.