Bitcoin Breaks Above $85K as Crypto Market Sees Broad Rally

The global crypto market rose significantly on September 21, with Bitcoin (BTC USD) briefly surpassing $85,000 for the first time since January.

This surge in price was attributed to a combination of factors, including falling oil prices, lower Treasury yields, and renewed interest in Bitcoin ETFs.

The move also coincided with a large wave of short liquidations, which added buying pressure to the market. Ethereum (ETH USD), XRP, and Solana also posted strong gains, with prices increasing by 5-8% over the past 24 hours.

The total crypto market capitalization rose by about 5% to roughly $2.93 trillion, while the Crypto Fear & Greed Index stood at 76.