Bitcoin Surges to $85,000 as Short Squeeze Liquidates $648M in Bearish Bets
Bitcoin hit $85,000 on Monday, propelled by a short squeeze that liquidated $648 million in bearish positions, according to data from CoinGlass. Open interest in bitcoin futures rose 7.59% to $156 billion, indicating traders are adding to positions rather than pulling back, even as forced buy-ins drove the price higher.
