A short squeeze: $1 billion shorts wiped out overnight.
Bitcoin has surged strongly past $86,000, jumping 6.7% within 24 hours to hit an eight-month high. It has crushed the crucial $82,000 resistance level that had eluded bulls since May. This isn’t a typical rebound—within 24 hours, more than $1 billion in short positions were forced to cover. Short sellers had to buy back to close their positions, which in turn pushed the price even higher. This is the classic mechanics of a squeeze.
Glassnode had long marked the $83,000 to $86,000 range as a heavy liquidation zone for shorts. Once the price touched that band, liquidation cascades kicked in—like dominoes falling. Since Bitcoin bottomed at $74,965 on September 15, it has rebounded violently by nearly 15%, and compared with the low point two months ago, it’s surged more than 50%.
Institutional capital has turned around in sync. U.S. spot Bitcoin ETFs saw a net inflow of $433 million on Friday. Fidelity’s FBTC alone pulled in $310.7 million, while BlackRock’s IBIT added another $108.4 million. Together, the two accounts for roughly 97% of the day’s total net inflows, and none of the products recorded outflows. Based on average cost, ETF buyers’ cost basis stands at $82,225—meaning previously trapped institutional investors have fully regained their losses.
Fidelity has declared that “Bitcoin’s winter has ended,” while BTIG analysts put it plainly: as long as the $75,000 support holds, $90,000 will be the next stop. And now, $90,000 has become the next battleground between bulls and bears.
#比特币突破5月高点逼近8.6万美元
Bitcoin has surged strongly past $86,000, jumping 6.7% within 24 hours to hit an eight-month high. It has crushed the crucial $82,000 resistance level that had eluded bulls since May. This isn’t a typical rebound—within 24 hours, more than $1 billion in short positions were forced to cover. Short sellers had to buy back to close their positions, which in turn pushed the price even higher. This is the classic mechanics of a squeeze.
Glassnode had long marked the $83,000 to $86,000 range as a heavy liquidation zone for shorts. Once the price touched that band, liquidation cascades kicked in—like dominoes falling. Since Bitcoin bottomed at $74,965 on September 15, it has rebounded violently by nearly 15%, and compared with the low point two months ago, it’s surged more than 50%.
Institutional capital has turned around in sync. U.S. spot Bitcoin ETFs saw a net inflow of $433 million on Friday. Fidelity’s FBTC alone pulled in $310.7 million, while BlackRock’s IBIT added another $108.4 million. Together, the two accounts for roughly 97% of the day’s total net inflows, and none of the products recorded outflows. Based on average cost, ETF buyers’ cost basis stands at $82,225—meaning previously trapped institutional investors have fully regained their losses.
Fidelity has declared that “Bitcoin’s winter has ended,” while BTIG analysts put it plainly: as long as the $75,000 support holds, $90,000 will be the next stop. And now, $90,000 has become the next battleground between bulls and bears.
#比特币突破5月高点逼近8.6万美元