Bitcoin Taps $85K but Coinbase Premium Index Turns Negative Again
- —BTC gained roughly 6% in a day, hitting an intraday high of $85,248
- —Over $260 million in short positions were liquidated within 60 minutes
- —Coinbase Premium Index fell to about -0.02 with BTC near $85,000
- —U.S. spot bitcoin ETFs drew just $6.21 million from Sept. 14-18
Why it matters: The rally is driven by leverage and a short squeeze rather than U.S. spot demand; a sustained positive premium would confirm the recovery.
Source: Bitcoin.com