More than $120 million in Bitcoin short positions were liquidated over 24 hours as the price came close to $87,000 on Friday, Oct. 2, 2026, Cointelegraph reported. The traders on the losing side were the ones betting on a lower price.
TradingView data cited in the report shows BTC/USD hit $86,857 on Bitstamp, then fell back below $86,000. The report also says buyers got through a cluster of sell orders and set new October highs near $87,800. It describes the area just above that level as a new resistance point.
Cointelegraph calls the move Bitcoin's highest level since a date in September, but the available text cuts off before naming it. The report doesn't say which exchanges the liquidations happened on or how they were divided among venues.
For anyone already holding a perpetual position, this report doesn't directly change anything Perp Desk measures. It gives no funding rates, fees or liquidity figures for Bitget, Bybit, MEXC or OKX. The confirmed facts are that over $120 million in shorts were force-closed and the price swung between about $86,000 and $86,857 on Bitstamp. How this affected the cost of holding a position on any of the four exchanges isn't known from this story.
Source: cointelegraph — Bitcoin reaches for $87K as short liquidations top $120M
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