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BTC.top founder Jiang Zhuoer, founder of the mining pool with Chinese roots, said on X that Bitcoin could rise to $87,000-$87,500 in the near term before seeing a pullback below $79,000. Jiang said the recent surge from $78,000 to $87,000 has already cleared out a substantial share of short liquidations positioned higher up.
Based on the current $86,000 level, Jiang said a $10,000 rise would trigger an estimated $440 million in short liquidations, while a $10,000 drop would lead to $1.66 billion in long liquidations.