#比特币升至8.5万美元附近
Bitcoin shorts worth $122 million were liquidated in a single day, surged to $86,857—then turned around 🦖
🚨 行情变了群里说
That $85,000 sell-wall, which had been suppressing the price all week, was pushed aside—hard—by the buyers. Bitcoin touched a high of $86,857 on Friday, the highest since September 23. Within 24 hours, shorts totaling $122 million were liquidated, and across the entire crypto market about $210 million in liquidations were recorded 💥. But what’s really worth paying attention to isn’t the price—it’s that leverage is quietly becoming more crowded.
On-chain data firm Glassnode puts it plainly: the sell orders above $85,000 have noticeably declined. "The remaining sell orders seem to have been withdrawn," which means pushing the price upward will take less effort. CoinGlass’s liquidation heatmap shows that liquidations are likely to start clustering above $87,300—meaning after one batch of shorts was pushed out, fresh ammunition has already piled up at higher levels.
On the other side, the derivatives market is accelerating. CoinDesk, citing CoinGlass data: Bitcoin open interest has risen by $230 million since September 30—about 27,000 BTC. Total open interest climbed to roughly 653,000 BTC, or about $56.2 billion, an increase of about 4.3%. Meanwhile, the funding rate for perpetual contracts rose from around 3% to 10% over the same period. A positive funding rate means long traders are paying the short side—bullish bets are getting more crowded, and holding costs are also rising.
One reminder ⚠️: open interest at the end of September was about 625,000 BTC, which was already close to the lowest in 12 months. So this round of growth is rebounding from a very low base—it’s not quite full-blown mania yet.
On price action: Bitcoin climbed from about $83,500 to $86,500. Around $86,000 sits the breakeven zone for U.S. spot Bitcoin ETF investors, and this is exactly where bulls and bears will repeatedly fight. ETF flows are cooperating as well: on October 1, spot Bitcoin ETF net inflows totaled $102.7 million, including BlackRock’s IBIT pulling in $195 million in a single day. However, compared with the near $1 billion daily inflow on September 21 and the highest peak in the past year, the pace of inflows has clearly slowed.
Pre-market, crypto-related stocks moved higher in sync: Strategy and Strive rose by about 3%, and a certain exchange’s stock and Robinhood each rose by about 2%.
My take: A fast rally doesn’t necessarily mean a stable rally. Funding rates have tripled, suggesting longs are paying to hold positions. The more crowded the leverage, the easier it is for a data reversal to trigger a cascade. Above $87,300, liquidation clusters are building; below $86,000 is the ETF cost line. Tonight’s U.S. September Non-Farm Payrolls is the starting gun—if jobs are strong, the rate-hike odds could bounce back, and leveraged longs would be hit first. If jobs are weak, then the $87,000 wall has a chance to be pushed flat.
After tonight’s Non-Farm Payrolls, do you think Bitcoin breaks $87,000 first, or pulls back to $85,000 first? Let’s discuss in the comments.
Click the avatar to watch the livestream
Every day, I’ll take you through Bitcoin headlines—not just what happens in the news, but also the logic and opportunities behind it 👀🚀
Bitcoin shorts worth $122 million were liquidated in a single day, surged to $86,857—then turned around 🦖
🚨 行情变了群里说
That $85,000 sell-wall, which had been suppressing the price all week, was pushed aside—hard—by the buyers. Bitcoin touched a high of $86,857 on Friday, the highest since September 23. Within 24 hours, shorts totaling $122 million were liquidated, and across the entire crypto market about $210 million in liquidations were recorded 💥. But what’s really worth paying attention to isn’t the price—it’s that leverage is quietly becoming more crowded.
On-chain data firm Glassnode puts it plainly: the sell orders above $85,000 have noticeably declined. "The remaining sell orders seem to have been withdrawn," which means pushing the price upward will take less effort. CoinGlass’s liquidation heatmap shows that liquidations are likely to start clustering above $87,300—meaning after one batch of shorts was pushed out, fresh ammunition has already piled up at higher levels.
On the other side, the derivatives market is accelerating. CoinDesk, citing CoinGlass data: Bitcoin open interest has risen by $230 million since September 30—about 27,000 BTC. Total open interest climbed to roughly 653,000 BTC, or about $56.2 billion, an increase of about 4.3%. Meanwhile, the funding rate for perpetual contracts rose from around 3% to 10% over the same period. A positive funding rate means long traders are paying the short side—bullish bets are getting more crowded, and holding costs are also rising.
One reminder ⚠️: open interest at the end of September was about 625,000 BTC, which was already close to the lowest in 12 months. So this round of growth is rebounding from a very low base—it’s not quite full-blown mania yet.
On price action: Bitcoin climbed from about $83,500 to $86,500. Around $86,000 sits the breakeven zone for U.S. spot Bitcoin ETF investors, and this is exactly where bulls and bears will repeatedly fight. ETF flows are cooperating as well: on October 1, spot Bitcoin ETF net inflows totaled $102.7 million, including BlackRock’s IBIT pulling in $195 million in a single day. However, compared with the near $1 billion daily inflow on September 21 and the highest peak in the past year, the pace of inflows has clearly slowed.
Pre-market, crypto-related stocks moved higher in sync: Strategy and Strive rose by about 3%, and a certain exchange’s stock and Robinhood each rose by about 2%.
My take: A fast rally doesn’t necessarily mean a stable rally. Funding rates have tripled, suggesting longs are paying to hold positions. The more crowded the leverage, the easier it is for a data reversal to trigger a cascade. Above $87,300, liquidation clusters are building; below $86,000 is the ETF cost line. Tonight’s U.S. September Non-Farm Payrolls is the starting gun—if jobs are strong, the rate-hike odds could bounce back, and leveraged longs would be hit first. If jobs are weak, then the $87,000 wall has a chance to be pushed flat.
After tonight’s Non-Farm Payrolls, do you think Bitcoin breaks $87,000 first, or pulls back to $85,000 first? Let’s discuss in the comments.
Click the avatar to watch the livestream
Every day, I’ll take you through Bitcoin headlines—not just what happens in the news, but also the logic and opportunities behind it 👀🚀
