Bitcoin Surges to $87,800 as Short Liquidations Top $120 Million
Key Facts
Bitcoin price reached a new all-time high of $87,800 on October 2, 2026. The cryptocurrency surpassed previous record levels set earlier in the day as strong upward momentum continued across digital asset markets.
The rally triggered over $120 million in short liquidations, a significant increase from liquidation levels reported earlier in the session. This price action follows a period of volatility where the asset traded at $85,027 on October 1, 2026, on the Binance spot market before breaking through multiple resistance levels.
Latest Updates · 7
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Update: Derivative market data showed open interest in Bitcoin futures and perpetual contracts rose to 653,000 BTC on October 2, 2026. This represents an increase of 27,000 BTC from September 30, 2026 levels, indicating fresh capital entering the market alongside the new all-time high.
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Update: Bitcoin futures open interest rose by nearly 9,000 BTC within a 24-hour period on October 2, 2026. This growth coincided with the buying-pressure index hitting 4.9, marking its highest reading since August 19 and reinforcing the cryptocurrency's technical momentum.
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Update: A $3 trillion bank raised its Bitcoin price target on October 2, 2026. This upward revision coincided with spot Bitcoin ETFs returning to positive net inflows, providing further fundamental support for the ongoing price rally.
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Update: Citi issued a new price target for Bitcoin at $113,000 over the next 12 months. The projection, released on October 2, 2026, comes as the cryptocurrency continues to trade at unprecedented record levels.
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Update: The sell wall at the $85,000 level was fully absorbed on Thursday, October 1, 2026. This technical breakthrough followed nearly a week of repeated attempts to surpass this specific price resistance.
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Update: Bitcoin closed September 2026 at $83,563. Market participants are now monitoring the $82,000 technical support level alongside the upcoming release of US jobs data scheduled for October 2, 2026.
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Update: Bitcoin price action stabilized above a newly identified support level near $83,500 on October 1, 2026. This technical floor emerged as the cryptocurrency entered a period of 'seesaw' fluctuations following its recent ascent to record highs.