Bitcoin hits $86,000 as $648M short squeeze clears key resistance
- —More than $648 million in shorts liquidated within 24 hours
- —Long-term holders accumulated roughly 1.07 million BTC with cost bases of $83,000–86,000
- —US spot Bitcoin ETF breakeven sits at $85,638–86,000
- —Prior week closed near $81,159, the first weekly close above the 50-week moving average in 45 weeks
Why it matters: Sustainability hinges on genuine spot demand: a drop below $86,000 would push ETF investors back underwater and add selling pressure.
Source: Crypto Briefing