Bitcoin FOMO Triggers Wave of Forced Buying Amid Priced at $87,300

The price of Bitcoin cleared $87,300 on September 21, 2026, marking its highest level since January of that year. This milestone has sparked a wave of forced buying and short-covering across major exchanges, driven by what market observers are calling 'Bitcoin FOMO.'

Analyst Michaël van de Poppe suggests that price action may be at an earlier stage than the broader trading crowd perceives. He notes that the current technical structure shares similarities with the $22,000 level of the previous cycle.

In support of this theory, Van de Poppe points to historical data from the 2018-2021 cycle, where Bitcoin's value advanced from a $3,000 floor to a peak of $69,000. He argues that the potential upside margin remains significant for both the market leader and the altcoin segment.

The derivatives market recorded $648 million in short position liquidations within a 24-hour window, with global trading volume registering a 39% increase during the session. Open interest expanded by 7.6% to reach $156 billion, indicating that traders are adding fresh leverage rather than de-risking after the price spike.