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Bitcoin tops $85,000; variables to watch over Chuseok holiday

Bitcoin rose above $85,000 for the first time since January, drawing attention to whether it can extend gains as oil prices ease and U.S. spot bitcoin ETF inflows increase. Technical indicators show signs of short-term overheating, while liquidations in the broader crypto market topped $600 million in 24 hours. ETF inflows were led by Fidelity’s FBTC. Markets are also watching oil and interest rates, including Fed hike probabilities.