Bitcoin Surges to $86K, Testing Key Supply Zone
- Bitcoin reached a high of $86,502 on Sept. 22, marking a more than 10% increase from the previous Sunday’s close.
- Approximately 1.07 million BTC were acquired between $83,000 and $86,000, mostly by long-term holders.
- ETF investors saw nearly $1 billion in inflows on Sept. 21 with trading volumes exceeding $4.5 billion.
- Short-liquidation levels between $82,000 and $86,000 increased by about 21% since Aug.19.
The recent surge in Bitcoin‘s price to over $86K has brought it into a significant supply zone where long-term holders are concentrated. This area is critical as it represents breakeven points for many investors who have been holding through lower prices.
The movement above this level also impacts institutional players heavily invested in ETFs, potentially pushing them back into profitability after months of losses.(Source )
