#BTC
As of today, September 21, BTC pushed above $86,000, reaching an 8-month high, with the move around 6% on the day.
The Wall Street Journal +1
What’s driving the rally?
Short squeeze: Roughly $300M in BTC short positions were liquidated during the move above $84K, creating additional forced buying.
Yahoo Finance
$80K breakout: BTC has reclaimed the $80K area, which had acted as a major resistance zone.
Business Insider
Macro conditions improved: Oil prices and U.S. Treasury yields pulled back, improving the environment for risk assets like crypto.
The Motley Fool +1
Technical momentum: BTC closed above its 50-week moving average for the first time in about 45 weeks, which has attracted trend-following buyers. 🤑🤑
As of today, September 21, BTC pushed above $86,000, reaching an 8-month high, with the move around 6% on the day.
The Wall Street Journal +1
What’s driving the rally?
Short squeeze: Roughly $300M in BTC short positions were liquidated during the move above $84K, creating additional forced buying.
Yahoo Finance
$80K breakout: BTC has reclaimed the $80K area, which had acted as a major resistance zone.
Business Insider
Macro conditions improved: Oil prices and U.S. Treasury yields pulled back, improving the environment for risk assets like crypto.
The Motley Fool +1
Technical momentum: BTC closed above its 50-week moving average for the first time in about 45 weeks, which has attracted trend-following buyers. 🤑🤑