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Bitcoin Surges to Eight-Month High Amid Renewed Demand and Short Covering

Guavy AI Editorial Team
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Bitcoin (BTC) has reached an eight-month high of $87,397 amid renewed demand and forced short covering. The flagship cryptocurrency jumped nearly 7% on Monday to reach this price point before closing at $86,593.

According to Bloomberg, BTC extended its recovery by over $10,000 from the previous week's lows, trading at levels last seen at the end of January 2026.

Nicolai Sondergaard, Senior Research Analyst at Nansen, stated that despite the rally, Hyperliquid's largest Bitcoin holders remained net short. Nansen also flagged that more BTC was moving to exchanges than leaving them, potentially raising the supply of BTC available in the market.

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