The short-sellers paid tuition, and BTC reclaimed 85,000
₿ I saw the chart last night. My first reaction wasn’t excitement—it was just a moment of blankness.
BTC has reclaimed 85,000. After eight months, this level was the first time it was properly recovered. During the day it even tapped the area around 86,000, closing above 85,000. This wasn’t one of those “straight-up and explode” pumps. It’s more like a big fish took the bait, the line stayed taut—nobody panicked—and they hauled the fish onto the shore by force.
Looking back at this week, it actually looks ugly. The Fed hiked rates, and the Clarity bill failed to pass in the Senate. Price got smashed to around 75,000 at one point. Many people were already writing “the second wave of the bear market.” Then on Friday, the ETF saw net inflows of about $433 million in a single day—Fidelity’s FBTC alone took in $310 million. On the short side, it was even worse: in the past 24 hours, short liquidations were roughly $630 million to $750 million, with shorts contributing the majority. The price wasn’t pushed up by hype—it was squeezed up.
So when I say it’s “sturdy,” it’s not because it’s rising hard. It’s because when it should have crashed, it didn’t. After the bad news got dumped, the buy pressure was still there. The more leveraged shorts stacked, the more the spot and ETFs filled the gap. The “Glass Node” data is also interesting: the average cost basis of U.S. spot Bitcoin ETF holders is around 85,600. Right now, the price is sitting right at the doorstep of that line. If it can hold, 85,000 turns from resistance into steps. If it can’t, then you get another round of back-and-forth whipsaw.
Anyone who’s fished knows: the moment the big fish breaks the surface is when it’s easiest to mess up. It’s not that the fish isn’t big—it’s that people are too急. The number 85,000 looks great, but looking good doesn’t mean you can chase. The most expensive tuition for those who came down from around 120,000 last round was treating the rebound as the starting point of a new bull market.
Next, we’ll just watch three things:
1) Can 85,000 close as support—not just a one-day visit?
2) Will ETF flows keep coming in, or will it turn into another tug-of-war of inflows and outflows?
3) In the 87k to 90k range, is there real buying demand—or is it just shorts closing their positions?
My approach hasn’t changed. As far as position sizing goes, it’s the same saying: guard your coins like guarding your widow. The core holding doesn’t move; no adding leverage; don’t join the noise. Over on OKB and X Layer, what you should watch is still the ecosystem and the DCA schedule—don’t change your plan just because this BTC jump is happening.
The market will always give you numbers. The real difficulty is whether you can stay seated when the numbers arrive.
85,000 is back. The next baton is to see whether it can hold and spend the night here. $BTC #比特币突破8.5万美元
₿ I saw the chart last night. My first reaction wasn’t excitement—it was just a moment of blankness.
BTC has reclaimed 85,000. After eight months, this level was the first time it was properly recovered. During the day it even tapped the area around 86,000, closing above 85,000. This wasn’t one of those “straight-up and explode” pumps. It’s more like a big fish took the bait, the line stayed taut—nobody panicked—and they hauled the fish onto the shore by force.
Looking back at this week, it actually looks ugly. The Fed hiked rates, and the Clarity bill failed to pass in the Senate. Price got smashed to around 75,000 at one point. Many people were already writing “the second wave of the bear market.” Then on Friday, the ETF saw net inflows of about $433 million in a single day—Fidelity’s FBTC alone took in $310 million. On the short side, it was even worse: in the past 24 hours, short liquidations were roughly $630 million to $750 million, with shorts contributing the majority. The price wasn’t pushed up by hype—it was squeezed up.
So when I say it’s “sturdy,” it’s not because it’s rising hard. It’s because when it should have crashed, it didn’t. After the bad news got dumped, the buy pressure was still there. The more leveraged shorts stacked, the more the spot and ETFs filled the gap. The “Glass Node” data is also interesting: the average cost basis of U.S. spot Bitcoin ETF holders is around 85,600. Right now, the price is sitting right at the doorstep of that line. If it can hold, 85,000 turns from resistance into steps. If it can’t, then you get another round of back-and-forth whipsaw.
Anyone who’s fished knows: the moment the big fish breaks the surface is when it’s easiest to mess up. It’s not that the fish isn’t big—it’s that people are too急. The number 85,000 looks great, but looking good doesn’t mean you can chase. The most expensive tuition for those who came down from around 120,000 last round was treating the rebound as the starting point of a new bull market.
Next, we’ll just watch three things:
1) Can 85,000 close as support—not just a one-day visit?
2) Will ETF flows keep coming in, or will it turn into another tug-of-war of inflows and outflows?
3) In the 87k to 90k range, is there real buying demand—or is it just shorts closing their positions?
My approach hasn’t changed. As far as position sizing goes, it’s the same saying: guard your coins like guarding your widow. The core holding doesn’t move; no adding leverage; don’t join the noise. Over on OKB and X Layer, what you should watch is still the ecosystem and the DCA schedule—don’t change your plan just because this BTC jump is happening.
The market will always give you numbers. The real difficulty is whether you can stay seated when the numbers arrive.
85,000 is back. The next baton is to see whether it can hold and spend the night here. $BTC #比特币突破8.5万美元