The move put Bitcoin up 3.17% over 24 hours. Short liquidations across Binance, Bybit and OKX totaled $45.96 million during the same hour.
The liquidation occurred at $86,310 at 1:20 p.m. ET (5:20 p.m.
Bitcoin rose 1.32% during the hour, from $85,260 to $86,381, as short positions accounted for nearly all liquidations.
BlackRock's IBIT led Bitcoin funds with a $195.6 million inflow, while Fidelity's FETH posted the largest Ether fund outflow at $23.5 million.
Bitcoin's October gains may depend on continued buying as higher Treasury yields compete for investors' money, according to Bitfinex. Its outlook tracks 17 economic releases and recurring indicators, with inflation and the Federal Reserve decision taking priority.
The revised targets rise from $82,000 for Bitcoin and $2,240 for Ether. Citi also projects about $5 billion in crypto ETF inflows over the next year.
Long positions accounted for $107 million, while short positions totaled $83.38 million over the past 24 hours.
Holders realized profits totaling 25,700 BTC on Sept. 22. Apparent spot demand fell by 170,000 BTC over 30 days, while growth in speculative futures demand slowed.
The sale included 45.41 Bitcoin and 2,570 Ether, with the reported asset values totaling about $10.75 million after rounding.
Buyers absorbed the sell orders at the level Thursday, Oct. 1, after nearly a week of unsuccessful attempts to break through.
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