Bitcoin Climbs Above $84,000 as Leverage Drives Market Liquidations
Photo: TokenPost
Bitcoin (BTC) climbed above $84,000 as a sharp rally forced nearly $83 million in short positions to close, adding to renewed volatility in leveraged crypto trading. Bitcoin briefly reached an intraday high between approximately $85,111 and $85,248. The asset gained about 5.7% over 24 hours as the move pushed through the $84,000 level. Short positions profit when prices fall. When leveraged trades lose enough collateral, exchanges can automatically close them by buying Bitcoin, potentially adding upward pressure during a rally. The move followed a larger liquidation event on Sept.
Source: TokenPost
