Bitcoin reaches for $87K as short liquidations top $120M
Summary
Bitcoin climbed to nearly $87,000 after breaking through a sell-order wall around $85,000, reaching a high of $86,857 before easing back below $86,000. The move came as reduced ask liquidity allowed price to rise faster, and short liquidations over 24 hours hit $122 million. A liquidation cluster appeared above $87,300, suggesting more upside pressure if resistance breaks. The $86,000 area remains important as the breakeven zone for US spot Bitcoin ETF buyers. ETF inflows have cooled sharply from late-September peaks, when daily inflows neared $1 billion, but on Oct. 1 the sector still saw $102.7 million in net inflows, led by BlackRock’s IBIT. A stronger breakout would likely need higher volume and renewed ETF demand.
