Bitcoin closes in on $85,000 as bears get forced out

Mettis Global reported that bitcoin rose above $84,000 on September 21, 2026, as short sellers were forced to buy back their positions and drove prices higher. The rally also lifted shares of crypto-linked companies. Liquidations reached $313mn across crypto positions, and CoinDesk data cited by the publisher put roughly 96% of that on the side betting against prices.

The buying followed a Fed decision on Friday to lift rates by 25bps, paired with a signal that future moves would be gentler than markets had anticipated. Riskier assets gained after that announcement, pushing bitcoin up more than 6% and wiping out over $445mn in crypto shorts, of which above $230mn was in bitcoin. The clearing left few bears holding positions beneath the market price.

Bitcoin had topped $121,000 earlier in 2026 before dropping to the mid-$60,000s over the summer. This advance represents a rebound off those lows, and the price remains well below its earlier high.