Bitcoin Surges Above $85,000 as Crypto Market Rally Accelerates
Bitcoin climbed above $85,000 on Monday, reaching its highest level since January as a sharp recovery triggered large-scale liquidations of short positions across the cryptocurrency market.
The world’s largest cryptocurrency briefly moved above the $85,000 mark during trading, extending its recent rebound. Bitcoin had been trading near $75,000 earlier in September before recovering above $80,000 last week.
More Than $260 Million in Short Positions Liquidated
The rapid increase in Bitcoin’s price put pressure on traders who had bet on further declines.
CoinGlass data showed that more than $262 million in short positions were liquidated within one hour, while total crypto market liquidations during the same period were around $272 million.
The broader liquidation wave continued over a longer period, with more than $750 million in crypto positions reportedly liquidated over 24 hours, most of them short positions.
Bitcoin Reaches Eight-Month High
Bitcoin’s latest move represents a significant recovery from its recent lows. The cryptocurrency remains below its October 2025 record high of more than $126,000, but Monday’s rally took it to its strongest level since January.
The rally also came after Bitcoin recorded a weekly close above its 50-week moving average for the first time in 45 weeks, according to CoinGlass data reported by market outlets.
Crypto Market Watches for Further Recovery
The latest price movement has renewed attention on whether the prolonged weakness in cryptocurrency markets is coming to an end.
Bitcoin’s performance is being closely watched by traders as the market assesses whether the recent recovery can continue. Other major cryptocurrencies also recorded gains during Monday’s broader market advance.
Market conditions remain volatile, and cryptocurrency prices can change rapidly as traders respond to economic data, interest-rate expectations, regulatory developments and broader financial-market sentiment.
