Bitcoin Jumps Above $85,000 in Sharp Rally
Bitcoin surged above $85,000 on Monday, reaching its highest level in about eight months as a sharp rally triggered more … Read More The post Bitcoin Jumps Above $85,000 in Sharp Rally appeared first on ProPakistani .
Bitcoin prices surged past $85,000 on Monday, marking its highest level in about eight months. This sharp rally led to over $260 million in short liquidations within a single hour, according to CoinGlass data. In total, cryptocurrency market liquidations amounted to approximately $271.8 million during the same period.
Earlier, Bitcoin reached a peak of $85,229, its highest point since late January. Over the past five days, the cryptocurrency has risen more than 7%, and over the past three months, it has surged nearly 35%. The rally is occurring as investors evaluate whether the prolonged decline in crypto prices has ended.
Bitcoin is still below its all-time high of over $126,000, which was reached in October 2025. Matt Hougan, chief investment officer at Bitwise, expressed to CNBC that he believes the crypto winter has concluded and described the present situation as "crypto spring."
The cryptocurrency's latest movement followed its first weekly close above its 50-week moving average in 45 weeks, as per CoinGlass data.
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