Bitcoin recovers to $85,459 after $250 million long liquidation event
CIE News ·
Bitcoin climbed back to $85,459 on October 2 following $250 million in long liquidations. Analysts point to key resistance at $87,500 amid up to $1.242 billion in short exposure.
Bitcoin (BTC) traded back up to $85,459.60 on October 2, 2026, recovering from weekly dips toward $83,500 after rapid market volatility triggered over $250 million in liquidated long positions across major exchanges. Derivatives data indicated up to $1.242 billion in short liquidation exposure positioned at higher resistance marks. Bitget Wallet research lead Lacie Zhang told crypto.news that Bitcoin remains within a $78,000 to $95,000 range, highlighting $87,500 as the crucial upside resistance level needed to unlock further momentum.