Bitcoin reaches for $87K as short liquidations top $120M
60-second summary
Bitcoin surges past a massive ask wall, pushing October’s price to roughly $87,800 and establishing a fresh resistance zone just above that level; short positions liquidate over $120 million as traders scramble to cover, fueling the rally. The aggressive buying pressure signals bullish momentum, suggesting continued upward pressure on Bitcoin’s market price and heightened volatility.
Bitcoin buyers broke through a wall of ask liquidity to reach new October BTC price highs near $87,800, with the area immediately above now a new resistance hurdle.