Bitcoin Surpasses $84,000, Triggering $262 Million in Short Liquidations

Bitcoin (BTC) rose above $84,000 on September 21, marking its first breach of that price since January 31. The surge lifted the price to $83,869 at the time of reporting, a 3.18% gain for the day.

Short liquidations

Data from CoinGlass show that the move forced $262.30 million of short positions to liquidate within a single hour. Overall crypto market liquidations in the same hour reached $271.83 million, with long positions accounting for only $9.53 million.

Hourly and longer‑term liquidation totals

• Bitcoin contributed $218.55 million of the hourly total.
• Ethereum (ETH) added $26.47 million.
• Solana (SOL) added $8.92 million.
• Liquidations over 12 hours rose to $433.67 million.
• Over 24 hours, total liquidations hit $599.15 million, affecting 127,304 traders.

Market impact

Other assets also rallied. XRP gained 7.04% over 24 hours, Solana rose 6.67%, and Zcash (ZEC) posted a 33.50% weekly increase, leading the top‑10 gainers.

Technical context

Bitcoin closed the week of September 20 above its 50‑week moving average for the first time in 45 weeks, ending at $81,159, roughly 3% above the average near $78,786.

Analyst view

Alex Thorn, head of firmwide research at Galaxy, described the weekly close as a potential signal that the bear‑market low may be behind the market.