Bitcoin surpasses $85,000: Short squeeze drives price as ETF impact remains under scrutiny

Bitcoin climbed above $85,000 on Monday, September 21, driven primarily by a short squeeze rather than ETF inflows. Analysis suggests that while ETF activity showed net inflows of $6.21 million for the week of September 14-18 and $433 million on Friday, the price surge was largely fueled by derivatives. Market observers are now evaluating whether this movement represents a sustained trend reversal or a temporary rebound, considering factors such as institutional interest, macroeconomic conditions, and key technical indicators like the 2-year moving average.