Bitcoin recovers $85,000, highest since January
Bitcoin rises more than 5% in the session and surpasses $85,000, reaching highs of the beginning of the year, eight months ago, driven by the strangulation of short positions, which has forced automatic purchases.
The bitcoin has risen over 5% to $85,680, reaching an 8-month high, driven by short squeeze-induced automatic buying. The recent Clarity law on cryptoassets failed to pass a vote in the US, but the SEC issued an immediate order establishing a temporary regulatory pathway for trading tokenized US stocks. Analyst Javier Molina of eToro attributed part of the movement to short squeeze-driven forced buying, which doesn't equate to sustained new demand. Other cryptocurrencies, including solana, ethereum, and BNB, also saw significant gains.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
