Bitcoin Rises 5.9% to $80,000 Amid Forced Short Squeeze

Bitcoin (BTC) rose 5.9% on September 19, reaching a intraday high of $88,570. Most of the upward movement was attributed to the forced liquidation of short positions, according to reports. ABMedia noted that Bitcoin's rally emerged from the unwinding of bearish bets rather than new buying pressure.

The U.S. Federal Reserve raised its benchmark interest rate by 0.25 percentage points on September 16, setting it at 3.75%-4.00%. The Fed's projections showed a mid-point policy rate of 4.1% for both the end of 2026 and 2027.