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Home›Crypto›Bitcoin›Bitcoin nears $87,800 as short liquidations top $120 m…

Bitcoin nears $87,800 as short liquidations top $120 million

Short liquidations exceeded $120 million in 24 hours as BTC broke above a sell-order cluster around $85,000.

Reported · Written up by our desk · Bitcoin

Bitcoin traded near $87,800 on Friday after buyers pushed through a wall of sell-side liquidity, marking fresh October highs, according to Cointelegraph.

Cointelegraph reported that BTC/USD neared $87,000, with TradingView data showing BTC reaching $86,857 on Bitstamp before retreating below $86,000.

The outlet said BTC short liquidations topped $120 million over the prior 24 hours, and that a concentration of sell orders around $85,000 had kept price action rangebound until the breakout.

Cointelegraph also cited order book liquidity fluctuations and said the area immediately above the recent move is now a new resistance hurdle.

Latest closeBitcoin $81,906.63 ▼1.4%

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Sources

CointelegraphBitcoin reaches for $87K as short liquidations top $120M

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