This BTC move isn’t a “sudden desire to go up”—it’s more like the bears first floored the accelerator.
In the early hours of September 22, BTC further broke above $87,000, quickly rising from the area around $81,000 and hitting a new high since January this year. What’s driving the acceleration isn’t just a risk-on rebound following the Fed’s rate hikes—it also includes renewed ETF inflows, along with the large-scale liquidation of short positions triggered after the breakout above $82,000.
More importantly, the rally hasn’t finished in one go. After BTC broke through $82,000, $84,000, and $85,000 in sequence, it kept entering fresh short-liquidation zones, creating a positive feedback loop of forced buying. But once a large portion of the shorts has already been liquidated, the truly critical factor next is how much spot demand is willing to keep chasing prices after $87,000. If spot continues to absorb the selling, the upside potential can extend; if momentum starts to fade, the earlier gains squeezed out could be quickly given back.
What are you paying more attention to: the follow-through after the short squeeze ends, or the strength of chasing above $87,000?
Figure 1: Spot buyers taking the baton behind the surge in BTC · Key information
Image source: https://www.theblockbeats.info/news/63759
In the early hours of September 22, BTC further broke above $87,000, quickly rising from the area around $81,000 and hitting a new high since January this year. What’s driving the acceleration isn’t just a risk-on rebound following the Fed’s rate hikes—it also includes renewed ETF inflows, along with the large-scale liquidation of short positions triggered after the breakout above $82,000.
More importantly, the rally hasn’t finished in one go. After BTC broke through $82,000, $84,000, and $85,000 in sequence, it kept entering fresh short-liquidation zones, creating a positive feedback loop of forced buying. But once a large portion of the shorts has already been liquidated, the truly critical factor next is how much spot demand is willing to keep chasing prices after $87,000. If spot continues to absorb the selling, the upside potential can extend; if momentum starts to fade, the earlier gains squeezed out could be quickly given back.
What are you paying more attention to: the follow-through after the short squeeze ends, or the strength of chasing above $87,000?
Figure 1: Spot buyers taking the baton behind the surge in BTC · Key information
Image source: https://www.theblockbeats.info/news/63759
