Bitcoin breaks $85,000 as short sellers unwind
Bitcoin breaks $85,000 as short sellers unwindCrypto-wide short liquidations topped $648 million; evidence of broader spot demand remains mixed.
Bitcoin crossed $85,000 on Monday as short sellers were forced to buy back losing positions. That buying can accelerate a rally without establishing how many investors want to hold Bitcoin for longer. Europe’s staking review could change the costs and protections attached to rewards that customers earn through intermediaries. Cardano’s treasury vote has already denied a founding builder public funding, leaving the network to compete for future products without the proposed revenue-sharing agreement. Top News
Bitcoin hits $85,000 after $648M wipeout forces mass buyingCryptoSlate’s September 21 report cites CoinGlass data showing more than $648 million in short liquidations across crypto over 24 hours; Bitcoin accounted for roughly $360 million of total liquidations on both sides. A CryptoQuant contributor observed Binance net taker volume jumping from $11 million to $618 million within an hour as European trading opened. Santiment’s address data through September 20 offer limited evidence of broader participation, leaving the depth of fresh spot demand unresolved. EU staking review threatens crypto yields and network security could pay the priceThe Commission is asking whether staking needs additional rules under MiCA. Custodial services already face obligations; a separate regime could affect provider costs and customer protections, but no new staking license has been proposed. Charles Hoskinson says Cardano no longer comes first – its treasury vote explains whyDelegated representatives rejected a 12.29 million ADA Pogun funding request, declining its proposed revenue share. Hoskinson still targets a Cardano launch, but says future Input Output products will follow technical and commercial fit. From Our Sponsor
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