Bitcoin Reaches $85,000 as Short Squeeze Erases $648 Million in Bearish Bets

Bitcoin climbed to $85,000 as a short squeeze forced the closure of $648 million in bearish positions, according to CoinDesk. The move came alongside a sharp increase in futures market open interest, which rose 7.59% to $156 billion. The combination of widespread position liquidations and higher open interest suggests traders are continuing to pursue Bitcoin’s advance rather than reducing exposure. The data highlights stronger activity in leveraged crypto markets as the asset reaches the $85,000 level. Bitcoin is among the crypto assets monitored on Moneyiar’s market pages, alongside Aethir (ATH), Billions Network (BILL), Loaded Lions (LION), Movement (MOVE) and OpenLedger (OPEN).