Bitcoin Surges Past $85K as Short Liquidations Fuel Rally

Bitcoin's price surged to its highest point since January 2026 on September 21, reaching $85,000. This recovery follows a selloff last week and comes as short-position liquidations added momentum to the move.

The cryptocurrency gained more than 5% over 24 hours before easing back. It's worth noting that Bitcoin remains about 32.5% below its October 2025 record high near $126,000, according to industry reports.

Over $750 million in crypto positions were liquidated over the previous 24 hours, with short positions accounting for $648.3 million. Bitcoin positions represented $360.7 million of the liquidations.