Crypto Market Sees Recovery as $450M Shorts Liquidated, Bitcoin Hits a 9-Month High
The cryptocurrency market experienced a significant rebound on September 21, with over $450 million in short positions liquidated across major assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) within four hours. Bitcoin surged to a nine-month high of $85,299 after closing above its 50-week moving average for the first time since November 2025. The broader market cap increased by more than 2.25% in the last day, reaching $2.87 trillion. The recovery was driven by fading concerns over U.S. interest rate hikes and reduced geopolitical tensions between the U.S. and Iran, which led to inflows into Bitcoin and Ethereum ETFs. On-chain data from Santiment indicated a potential bear market bottom with rising social volume and large transactions. Veteran trader Peter Brandt also expressed bullish sentiment on Bitcoin's future performance. Regulatory developments in the U.S., including the SEC’s innovation exemption for tokenized stocks, contributed to improved investor confidence.
Tickers: $HSDT
Topics: altcoins Bitcoin Fear & Greed Index short liquidations