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Bitcoin rises 1.68% to $84,199 driven by short squeeze and strong buying pressure.

Technical Signals
12 Oct 2026
AMBCrypto
View Source
Bullish
Bitcoin rises 1.68% to $84,199 driven by short squeeze and strong buying pressure.

Bitcoin's price climbed 1.68% to a local high of $84,199 on October 11, fueled by a short squeeze that liquidated $42.69 million in short positions. The surge was supported by strong buying pressure targeting overhead short liquidations near $84k, though the key resistance at $84.5k was not tested. Analysts note that while short-term caution remains, the Bitcoin market is still in an early accumulation phase with signs of new money entering, suggesting the larger bull run is yet to begin. Key support zones lie between $77k-$79k and $64k-$65k, while breaking above $84k-$85k could signal renewed bullish momentum.

Bitcoin's recent price action is the subject, with Pluang's market data providing context. For readers following cryptocurrency markets, 6 of 50 major cryptocurrencies rose while 42 fell on Pluang. Notable movers include ATOM down 5.00% with 84% sell orders, CRV down 4.69% with 91% buy orders, and UNI down 4.53% with 95% buy orders, as of Oct 13, 2026 04:02 WIB.

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