Bitcoin (BTC) approached $87,000 on Friday, setting new highs since October. On Bitstamp, the BTC/USD pair reached $86,857 before falling below $86,000. Over the past 24 hours, short liquidations totaled $122 million, with $210 million across the entire crypto market.

This movement followed a shift in order book liquidity. A cluster of sell orders near $85,000 had limited price action during the week, but buyers broke through this level. According to Glassnode, reduced sell-side liquidity above current prices could accelerate gains, as remaining orders have reportedly been withdrawn. Previously, more than $30 million in sell orders appeared around $85,700. CoinGlass's heatmap indicates a cluster of potential liquidations above $87,300.

The $86,000 Zone Is the Average Break-Even for Spot Bitcoin ETF Investors

The area around $86,000 remains significant as the aggregated break-even point for investors in U.S. spot bitcoin ETFs.

Spot Bitcoin ETF Inflows Decline After $999 Million Peak

Glassnode notes that a sustained breakout, accompanied by higher volumes and renewed ETF inflows, would confirm broader demand for the trend. After September 21, when daily inflows reached a nearly year-high of $999 million, activity cooled. According to Farside Investors, net inflows into U.S. spot bitcoin ETFs totaled $102.7 million on October 1. The largest fund, iShares Bitcoin Trust (IBIT), attracted $195 million, but outflows from several other funds reduced the overall sum.