Bitcoin at $86,000: Fresh Leveraged Bets Drive Rally Higher
- —Break above $82,000 triggered a cascade of $750 million in short liquidations
- —Bitcoin futures open interest rose by roughly $2 billion
- —Spot BTC ETF flows turned positive: $160 million Thursday, $433 million Friday
- —Average ETF buyer cost basis at $82,225, putting ETF investors back in profit
Why it matters: The rally's durability hinges on whether spot and ETF demand keep pace with the derivatives-driven surge; without it, the move could reverse quickly.
Source: Kryptoszene