Bitcoin consolidates after hitting $87,000 as leverage remains high

Bitcoin is consolidating after reaching a high of $87,300, with open interest in derivatives markets remaining above $61.2 billion. Despite the price cooling, high leverage persists, which could amplify volatility. Spot Bitcoin ETFs continue to provide support, recording a net inflow of nearly $1 billion on September 21, led by BlackRock (IBIT), ARK Invest (ARKB), and Fidelity (FBTC). Analysts view $85,000 as a key short-term support level, while $90,000 remains a major resistance point.