Cryptocurrency21 Sept 2026SEO 801 min read

Analysis: Bitcoin hits $85,000 as short squeeze forces out $648 million of bearish bets

Open interest climbed 7.59% to $156 billion even as positions were closed out, a sign traders are chasing the move rather than stepping back. Bitcoin traded at…

Open interest climbed 7.59% to $156 billion even as positions were closed out, a sign traders are chasing the move rather than stepping back. Bitcoin traded at $84,984, up 4.7% since midnight UTC, extending its break above the $82,284 high of Sept. 4. Shorts made up $647.9 million of $746.6 million in 24-hour liquidations, including $159.9 million in the past hour alone, on Coinglass data. Open interest rose 7.59% to $156 billion despite the forced closures, suggesting traders are replacing pos…

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