Bitcoin tops $85,000 as BNY flags possible Fed hike in December
- —Bitcoin +4.59% to $85,368; Ethereum +2.55% to $2,730
- —24-hour liquidations total $944.96 million, 82.84% shorts
- —Derivatives volume jumped 79.73% to $1.27 trillion
- —Strategy bought another 950 BTC, holdings now 846,000
Why it matters: The market is shrugging off Fed tightening risk, with gains driven by a short squeeze and demand for BTC and ETH, leaving room for a sharp reversal if sentiment shifts.
Source: TokenPost