Bitcoin holds above $85,000 after $634.7M short squeeze
- —$634.7M in shorts liquidated in 24 hours vs $121.3M in longs
- —114,385 traders were forced to close positions
- —BTC reclaimed its 50-week moving average for the first time in 45 weeks
- —Intraday peak of $85,299 on Binance on September 21
Why it matters: Much of the move came from forced short covering rather than fresh spot demand, so whether $85,000 holds as support remains uncertain.
Source: Bitcoin Magazine NL