Bitcoin Rises 5.9% to $88,570 Amid Short Squeeze

Bitcoin (BTC) rose 5.9% over the course of one day, reaching $88,570. The cryptocurrency climbed 5.9% on September 19, peaking at $88,570 during the session. ABMedia reported that most of the upward movement stemmed from forced liquidation of short positions rather than new buying.

Calix and its parent company, Payward, submitted applications to U.S. authorities for individual stock perpetual futures products, following Coinbase's lead. Calix filed a regulatory change proposal with the SEC and applied for product approval with the CFTC.

Turkey delivered a new mediation proposal to the U.S. and Iran aimed at restarting negotiations, including measures to normalize shipping in the Strait of Hormuz and address frozen Iranian assets. Turkish Foreign Minister Hakan Fidan stated on September 19 during an NTV interview that several countries had presented the proposal.

Fetch.ai (FET) and NuNet (NTX) suffered attacks resulting in approximately $2 million in asset losses, with PeckShieldAlert reporting 8.7 million FET tokens and 485 million NTX tokens as affected assets.

Hyperliquid launched a collateralized loan feature using its native token HYPE and Bitcoin (BTC), enabling users to borrow USDC and USDT. On launch day, $269 million in assets were borrowed across the platform's manual lending and existing portfolio margin features.

Avalanche's Helicon upgrade is scheduled for mainnet activation at 00:00 UTC on September 23, featuring automatic staking renewal and C-chain Continuous Execution as noted in official developer documentation.

Circle launched its Arc mainnet, a Layer-1 blockchain supporting payments, foreign exchange, trading, and settlement based on USDC and EURC. Over 100 institutions and more than 100 applications joined the network on launch day.

Uniswap Labs proposed implementing protocol fees and UNI burning on Arc, with a snapshot vote running from September 18 to 23. If approved, an on-chain vote would follow.

Solana recorded a monthly record of 5.218 billion non-voting transactions in August, according to BlockBeats. NEAR Protocol's total value locked (TVL) reached $242 million, a new all-time high, with network fees rising to $860,000 over the past 48 hours as reported by AMBCrypto on September 19.