Bitcoin Hits 8-Month High of $86,332 as $741M in Shorts Liquidated

Bitcoin traded as high as $86,332 on Sept. 21, its highest level in eight months, extending a rebound from near $62,000 on Aug. 17. The token remains more than 30% below its October 2025 record above $126,000, narrowing its year-to-date loss to under 3%. CoinGlass logged $877.31 million in crypto liquidations over 24 hours, with $740.79 million—roughly 84%—from short positions. More than 126,000 accounts were liquidated; Bitcoin accounted for $491.48 million and Ethereum $195.11 million. Macro factors aided the move: Brent crude fell for a fourth straight session, and the 10-year Treasury yield eased to near 4.9%. Traders are positioning ahead of a Sept. 24 Trump-Xi meeting. Bitwise CIO Matt Hougan declared the "crypto winter" over. Prediction markets price 50% odds Bitcoin reaches $90,000 by month-end. Key catalysts include the Sept. 30 Fed inflation gauge, the Oct. 2 jobs report and Oct. 14 CPI data.