Bitcoin hits $86,000 as crypto liquidations near $1 billion

Bitcoin rallied to $86,000, an almost eight-month high, as institutional interest surged. Dogecoin led gains, while Ethereum and XRP also rallied. Coinglass data showed that 130,362 traders were liquidated for $928.11 million in the past 24 hours, bringing liquidations toward $1 billion. SoSoValue data showed net inflows of $433 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $143.8 million. Bitway, Pepe and Dogecoin were among the top gainers in the past 24 hours. Crude oil prices fell below $100, and Treasury yields slipped below 5%. Trader CrediBULL Crypto said Bitcoin was entering higher-timeframe resistance, which raised the risk of a short- to medium-term pullback. He said a pullback could still form a higher low above $60,000 before Bitcoin resumes a move toward more than $100,000. He also said consolidation could give altcoins room to rally. Jelle said Bitcoin's higher high signaled the start of a new bull market. Jelle said a weekly close at $83,000 or above would provide further confirmation. He said traders faced a choice between buying immediately, waiting for confirmation or seeking a better entry during a pullback.