Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
National
Piyush Shukla

Why is Bitcoin up today? BTC price surges above $85,000 in biggest move since January as $648 million shorts unwind, Ethereum and XRP rally

BTC Price Today: Bitcoin broke above $85,000 on September 21. The surge came after the coin logged its first weekly close above its 50-week moving average in 45 weeks. That single technical move changed the market mood instantly.

On September 20, Bitcoin closed the week at $81,159. Traders treat the 50-week average as a clear boundary line between bull and bear markets. Crossing above it gave algorithms and trend followers a direct signal to buy.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.