Bitcoin traded at $86,534.71 on Tuesday, up 6.6% over the past 24 hours and at its highest level since January, according to CoinGecko. The advance accelerated as the price cleared successive resistance levels, triggering a wave of short-seller liquidations that added forced buying pressure. Ether (ETH), Solana (SOL) and XRP all extended gains over the same period, and crypto-related stocks including Coinbase Global, Strategy and Riot Platforms rallied alongside the broader move.

A liquidation map shows the price levels at which leveraged derivatives positions would be automatically closed out, converting into forced buy or sell orders. On Hyperliquid, the decentralized perpetuals exchange whose order book CoinMarketCap draws on…