Bitcoin hits $84,000 as $262 million in shorts are liquidated
Bitcoin briefly reached $84,000 on September 21, extending a rally that began late last week. The world's largest cryptocurrency gained around 3.2% over the past 24 hours, while the sharp market move triggered a wave of short liquidations.
According to CoinGlass, at the time of writing, $271.86 million in crypto positions had been liquidated in a single hour, with shorts accounting for $261.96 million. Total liquidations over 24 hours approached $600 million, including $505.49 million in short positions.
Bitcoin traders suffered the largest losses over the past 24 hours at around $275.3 million. Ethereum liquidations reached $122.2 million, while the largest single liquidation order, worth $11.29 million, was recorded on Binance.
Bitcoin accelerates sharply above $82,000
On September 21, 2026, BTC/USDT climbed from around $81,500 to above $84,000 within several 15-minute candles. The price briefly reached approximately $84,200 before pulling back to around $83,800.
BTC/USDT chart on Binance. Data: TradingView.
The rally was accompanied by a notable increase in trading volume. The rapid move higher also triggered a wave of forced short closures, increasing pressure on traders betting on a market decline.
Over four hours, liquidations totaled $286.4 million, with shorts accounting for $269.6 million. Over 12 hours, the figure reached $430.6 million, including $382.5 million in short positions.
Among major exchanges, Binance recorded the largest 24-hour liquidations at around $273.7 million. Hyperliquid followed with $90.8 million, Bybit with $72.2 million, Gate with $55 million and OKX with $47.8 million.
Bitcoin ETFs attract $433 million
The rally followed renewed inflows into U.S. spot Bitcoin ETFs. On Friday, September 18, the funds recorded $433 million in net inflows, allowing them to finish the entire week with a modest positive result of $6.2 million.
Most of the capital went to Fidelity Wise Origin Bitcoin Fund, which attracted $310.7 million. BlackRock's iShares Bitcoin Trust received another $108.4 million. Total net assets held by U.S. spot Bitcoin ETFs stood at $102.53 billion by the end of Friday.
Another factor supporting the market was progress in the U.S. House of Representatives on legislation concerning the Strategic Bitcoin Reserve. The House Financial Services Committee backed a bill that would codify the reserve into law and prohibit the sale or transfer of qualifying government Bitcoin holdings for 20 years.
Meanwhile, VanEck believes persistent U.S. fiscal pressures and changing liquidity conditions could support institutional demand for Bitcoin. The firm estimates that the combination of these factors could help Bitcoin reach $100,000 next year.
Earlier, we reported that Stacks surged nearly 17% amid renewed interest in products that allow institutional investors to earn yield on Bitcoin. Growing demand for such instruments supported interest in the project's ecosystem.
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