Bitcoin Surpasses $86,000 and Ethereum Hits $2,750 Amid Massive Liquidations

Bitcoin (BTC) surged past $86,000 and Ethereum (ETH) climbed to $2,750, triggering a massive short squeeze in the derivatives market. According to CoinGlass, $922.27 million was liquidated across the market in 24 hours, affecting nearly 130,000 traders. The largest single liquidation occurred on Binance, involving a BTCUSDT position worth over $11.29 million.