Massive Short Squeeze Sends Bitcoin Price Above $86,000
Bitcoins price rallied past $86,000, achieving a 6% daily gain and pushing its market capitalization to $1.72 trillion. The move brought the asset near its Jan. 1 opening price of $87,575, narrowing year-to-date losses to under 2%. Key TakeawaysBitcoins price rallied past $86,000, lifting its market cap to $1.72 trillion and trimming YTD losses below 2%.The rapid surge triggered over $454 million in bitcoin short liquidations within a 24-hour window.Glassnode anticipates ongoing momentum, though $300 million in weekly ETF outflows remains a drag. Two Waves of Price Action Lead to $1.72T Market Cap Bitcoin‘s price tapped $86,000 shortly after midmorning as the cryptocurrency built on Friday’s momentum, when it reclaimed the $80,000 threshold. The latest climb also brought the asset within striking distance of its 2026 opening price, narrowing its year-to-date losses to less than 2%. Market data show bitcoin experienced two rallying waves, with each pushing the price to a new multi-month high. As reported by Bitcoin.com News, the first and most significant wave saw bitcoins price rally from $81,525 to just over $85,250 within two hours. While an ensuing sell-off dragged the price down to $81,150 around 6:40 a.m. EST, the dip was short-lived, and the price climbed back above $85,000 less









