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Bitcoin Surges Towards $87K as Altcoin Season Signals Emerge

Guavy AI Editorial Team
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BTC
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Bitcoin's price surged towards $87,000 after breaking above key technical resistance levels. Strong spot Bitcoin ETF buying has been driving the latest rally, with funds purchasing over 12,000 BTC in a single session and more than 8,000 BTC the following day.

The U.S. spot Bitcoin ETFs recorded nearly $1 billion in inflows in a single session, adding to a sharp increase in institutional demand. This has coincided with Bitcoin's move towards eight-month highs.

Bitcoin's rally has also triggered significant short liquidations, with over $900 million in leveraged short positions across Bitcoin and the broader crypto market reportedly liquidated over a 24-hour period.

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