[DigitalToday reporter Yoonseo Lee (이윤서)] Bitcoin is trading above $86,000, boosting the possibility of a move to $100,000.

According to blockchain media outlet U.Today on Sept. 22 local time, Bitcoin is showing signs of settling around $86,000. It has risen about 15 percent over the past 7 days.

What the market is watching is a breakout above a technical resistance line. Bitcoin is clearly above the 200-day moving average, which had acted as resistance around $80,000 to $81,000.

The short-term structure has also improved. Key short-term moving averages around $72,000 to $78,000 have turned higher from levels below the current price. The next resistance zone is $87,000 to $88,000, and if it breaks above that range there is not much notable resistance before $90,000, bringing $100,000 back as a psychological target.

In the derivatives market, there were clear signs that short-position liquidations pushed prices higher. CoinGlass data showed about $612 million in Bitcoin position liquidations over the past 24 hours. Of that, long liquidations were only $77 million, while short liquidations were much larger at about $535 million. That implies a significant short squeeze occurred during the breakout.

Still, it is hard to say position indicators have tilted fully bullish. Binance's long-short ratio across all accounts was 0.9026 and OKX's was 0.93, meaning both exchanges had slightly more short accounts than long accounts. By contrast, Binance's long-short ratio based on top traders' positions was about 2.27, suggesting some key participants are putting more weight on a rise.

That structure could become more important in the $87,000 to $90,000 range. If Bitcoin tests that zone again, remaining bearish positions could face further liquidations. If prices rise further, accounts that maintained bearish bets could close positions, increasing mechanical buying pressure.

Whether the rally continues ultimately depends on whether spot demand can support it, it was also suggested. Momentum needs “real spot demand” to continue after short liquidations end. In technical terms, Bitcoin is trading above key moving averages and the relative strength index has recovered to the mid-60s without entering an overbought zone. For now, the path toward $100,000 is open, but the first real test is the $87,000 to $90,000 range.

Even if there is a pullback, another point to watch is whether Bitcoin holds above $80,000 to $82,000, which had been a previous resistance line. If it successfully defends that range, the recent breakout is more likely to lead to an extended trend rather than being only a temporary short squeeze.