Bitcoin hits 8-month high amid millions in short liquidations

Bitcoin (BTC) hit as high as $85,326.10 on Sep. 21, as per CoinGecko. It is the leading cryptocurrency's 8-month high, as the last time it went this high was in late January this year.Bitcoin price in 2026, Source: CoinGecko Bitcoin has gained 6% in 24 hours, thanks to forced buying due to a short squeeze. Around $383 million in Bitcoin short positions have been liquidated over the last 24 hours, as per the onchain analytics platform CoinGlass.Crypto Liquidation Heatmap, Source: CoinGlass In fact, more than $781 million in short positions across different cryptocurrencies have been liquidated over the last 24 hours, out of which $659 million are short positions.