Bitcoin price reached a peak of $86,857 on the Bitstamp exchange, marking its highest level since September 23. The asset successfully broke through a liquidity barrier near $85,000, which had previously constrained price movement throughout the week.
The surge in price triggered significant liquidations of short positions. Over a 24-hour period, BTC short liquidations exceeded $120 million, with the total across the broader cryptocurrency market reaching $210 million. Data from CoinGlass indicates that further liquidation clusters are now forming above $87,300.
The $86,000 level is currently identified as the aggregate breakeven zone for investors in US spot Bitcoin exchange-traded funds. While these funds continue to record inflows, the pace has slowed compared to the peak observed on September 21, when daily inflows reached $999 million.
On October 1, US spot Bitcoin ETFs reported net inflows of $102.7 million. BlackRock’s iShares Bitcoin Trust accounted for $195 million in inflows, though this figure was partially offset by outflows from other funds, according to data from Farside Investors.
