Bitcoin climbed above $84,000 and liquidated nearly $83 million in short positions. A separate technical read from Bitcoin News shows the price near $83,770, still pressing against resistance.
Bitcoin climbed above $84,000, and nearly $83 million in short positions were liquidated as the price cleared the level, according to Crypto Briefing.
How the squeeze works
A short position is a bet that the price will fall. Crypto Briefing explains that when a borrowed short hits its liquidation price, the exchange buys the asset back to close it, which adds fuel to the rally.
Bitcoin News put the price at $83,771.70 on Oct. 11, up 0.9% over 24 hours, with a market capitalization of $1.683 trillion.
A smaller squeeze than September
The $84,000 level has a history. On September 21, 2026, Bitcoin crossed $84,000 for the first time since January 31 of that year. CoinGlass recorded roughly $262 million in short liquidations within a single hour, Crypto Briefing reported.
Short liquidations across the crypto market then reached approximately $648 million over the following 24 hours. Crypto Briefing said the latest squeeze, at nearly $83 million, suggests fewer bears were positioned at this level, or that they were using less leverage. A smaller squeeze, it added, means less forced buying.
Resistance still caps the recovery
Bitcoin News describes a harder climb. Resistance between $83,900 and $84,200 limits the recovery from a low of $80,308, and the relative strength index sits at 52.
The outlet lists support near $82,500, and losing it could expose $81,500. Its bull case says a sustained advance through $84,200 could potentially open the door toward $84,800 and $85,500.
Sources: Crypto Briefing, Bitcoin News
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