Bitcoin Breaks $85,000 With 5.7% Daily Gain as $710M in Shorts Liquidated
- —BTC gained 5.7% in 24 hours, briefly topping $86,500
- —Roughly $710M liquidated in 24 hours, 96% shorts
- —Weekly close above the 50-week SMA for the first time in 45 weeks
- —Spot BTC ETFs drew just $6.21M in weekly inflows
Why it matters: Reclaiming the 50-week moving average has historically marked the end of bear markets, but weak ETF inflows leave the rally's durability in question.
Source: BITTIMES