Bitcoin Surpasses $85,000 as Short Liquidations Hit $635 Million

Bitcoin climbed above $85,000 on Monday, triggering $634.7 million in short liquidations across crypto markets over 24 hours. CoinGlass data shows total market liquidations reached approximately $756 million, affecting over 114,000 traders. Galaxy Digital's Alex Thorn noted that Bitcoin closed the week above its 50-week moving average for the first time in 45 weeks, a signal historically associated with the end of bear market lows.