Crypto news report · source clearly identified
Bitcoin Surges Past $85,000 Amid Massive Short Liquidations
Bitcoin climbed to $85,076, up nearly 6%, as $648 million in crypto short positions were liquidated. A short squeeze sparked the rally, but continued spot buying kept momentum alive.
Bitcoin broke the $85,000 barrier, reaching $85,076, a 5.95% gain on the day. The price jump was triggered by a short squeeze that forced the liquidation of roughly $648 million in crypto short contracts.
Short Squeeze Fuels Initial Spike
Traders with leveraged short positions were hit as Bitcoin’s price rose sharply, prompting automatic liquidations that added buying pressure to the market.
Spot Buyers Extend the Rally
After the initial squeeze, spot market participants continued to buy, sustaining the upward move and pushing Bitcoin higher.
Market Context
- Bitcoin: $85,076 (+5.95%)
- Ethereum: $2,723 (+5.91%)
- Other major assets also posted gains, with BNB up 5.08% and SOL up 7.76%.
One metric of selling pressure approached a near‑record low, indicating reduced bearish activity.
Source & attribution
News Source
- Publisher
- Decrypt
- Original date
- September 21, 2026, 12:22 PM
- Original headline
- Bitcoin Tops $85K as $648M in Crypto Shorts Liquidated