Bitcoin came within touching distance of $90,000 in volatile trading during the European morning, swinging between highs well above $89,000 before falling below $86,000 as it encountered resistance on its path to another milestone. It was recently trading around $87,400.
The surge in the last 24 hours has seen nearly $900 million of liquidations in crypto-tracked futures, equally distributed between bullish and bearish bets at almost $450 million apiece, according to Coinglass data.
Notwithstanding the price swings, bitcoin is around 6% higher over 24 hours, outperforming the wider crypto market, which has risen just under 3.5%, as measured by the CoinDesk 20 Index.
