BTC hits 87,000, who’s buying?
Bitcoin surged from 82,000 to 87,000, up more than 7% in 24 hours. Many people are asking why it’s rising so fast. The answer is simple: the shorts got liquidated—and it was a chain reaction.
Let’s break down how this move started.
First layer: a recovery in macro expectations. The Fed raised rates, but it wasn’t as hawkish as the market expected. Once the expectations gap appeared, risk appetite returned.
Second layer: spot ETF inflows. Last Thursday and Friday, US spot Bitcoin ETFs saw total inflows of about $593 million.
Third layer—the one that “stalls” the market—the squeeze on shorts.
After BTC broke above 82,000, it entered a dense liquidation zone for shorts between 84,000 and 85,000. Price rises → shorts get liquidated → forced buying kicks in → price keeps rising → more shorts get liquidated. Once this positive feedback loop starts, the price doesn’t rise slowly—it shoots vertically.
In the past 24 hours, more than $750 million in positions across the whole market were liquidated, of which $648 million was short positions. The shorts became the biggest “fuel” for this rally.
But the key question comes next: once the shorts are cleared, who will buy?
Every time a short is liquidated, it consumes one future forced buyer. So the real factor that determines how far the trend can go isn’t how many shorts are left to be squeezed—it’s whether there is genuine spot buying demand willing to keep chasing.
Right now, there are some encouraging signals:
ETFs are seeing continued inflows; funding rates aren’t overheating, which suggests it isn’t driven purely by leverage. Also, BTC has moved back above the average cost zone of ETF investors (around 82,000). The spot funds that were previously trapped are now back in profit, so natural selling pressure eases.
Next, watch three things:
First, whether ETF money keeps coming in. If net inflows continue, the market may shift from a “short squeeze” trend into a “spot takeover” trend.
Second, whether leverage heats up quickly. If the price rises but funding rates and open interest surge in tandem, that means leveraged chasing capital is entering. In that case, the driving force of the rally shifts from spot to leverage again—and the risk becomes much higher.
Third, in the breakout range of 82,000 to 85,000, whether pullbacks can turn that area into real support.
$BTC $ETH
#比特币突破8万美元大关 #XRP上涨8%
Bitcoin surged from 82,000 to 87,000, up more than 7% in 24 hours. Many people are asking why it’s rising so fast. The answer is simple: the shorts got liquidated—and it was a chain reaction.
Let’s break down how this move started.
First layer: a recovery in macro expectations. The Fed raised rates, but it wasn’t as hawkish as the market expected. Once the expectations gap appeared, risk appetite returned.
Second layer: spot ETF inflows. Last Thursday and Friday, US spot Bitcoin ETFs saw total inflows of about $593 million.
Third layer—the one that “stalls” the market—the squeeze on shorts.
After BTC broke above 82,000, it entered a dense liquidation zone for shorts between 84,000 and 85,000. Price rises → shorts get liquidated → forced buying kicks in → price keeps rising → more shorts get liquidated. Once this positive feedback loop starts, the price doesn’t rise slowly—it shoots vertically.
In the past 24 hours, more than $750 million in positions across the whole market were liquidated, of which $648 million was short positions. The shorts became the biggest “fuel” for this rally.
But the key question comes next: once the shorts are cleared, who will buy?
Every time a short is liquidated, it consumes one future forced buyer. So the real factor that determines how far the trend can go isn’t how many shorts are left to be squeezed—it’s whether there is genuine spot buying demand willing to keep chasing.
Right now, there are some encouraging signals:
ETFs are seeing continued inflows; funding rates aren’t overheating, which suggests it isn’t driven purely by leverage. Also, BTC has moved back above the average cost zone of ETF investors (around 82,000). The spot funds that were previously trapped are now back in profit, so natural selling pressure eases.
Next, watch three things:
First, whether ETF money keeps coming in. If net inflows continue, the market may shift from a “short squeeze” trend into a “spot takeover” trend.
Second, whether leverage heats up quickly. If the price rises but funding rates and open interest surge in tandem, that means leveraged chasing capital is entering. In that case, the driving force of the rally shifts from spot to leverage again—and the risk becomes much higher.
Third, in the breakout range of 82,000 to 85,000, whether pullbacks can turn that area into real support.
$BTC $ETH
#比特币突破8万美元大关 #XRP上涨8%
