Bitcoin hits $80,935 as $183 million in crypto shorts are liquidated

  • Bitcoin climbed above $80,000 after leveraged short positions began closing automatically.
  • $183 million of roughly $192 million in one-hour crypto liquidations came from shorts.
  • Bitcoin faces resistance near $81,700-$83,000 after touching $80,935.

Bitcoin rose from about $76,400 to $80,935 as leveraged short positions were forcibly closed, accelerating the rally. Roughly $192 million in crypto positions were liquidated within an hour, including more than $183 million in shorts; bitcoin accounted for about $119 million and ethereum shorts for another $36 million. The move followed a failed CLARITY Act vote in the U.S. Senate on Sept. 15, a 0.25-percentage-point Federal Reserve rate increase the next day and a Bank of Japan hike that lifted its policy rate to 1.25%. U.S. spot bitcoin ETFs also attracted about $159 million on Sept. 17. Bitcoin now faces resistance between $81,700 and $83,000, while a loss of $80,000 could return the price to the upper $79,000s. Despite the CLARITY Act vote failure, bitcoin appears to have absorbed the setback.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.
Bitcoin hits $80,935 as $183 million in crypto shorts are liquidated - CoinPost Terminal