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Coinbase pays us for certain activity generated through this link. Prices displayed are informational. **Bitcoin (BTC) surged to a 7-month high on Monday, lifting market sentiment and institutional confidence with it.** The peak arrived after Bitcoin flashed a key bottom sign. Yet, two key signals raise questions about whether the rally can sustain itself.
Bitcoin climbed to an intraday high of $87,395 on September 21, its strongest price since January 29. The asset traded at $85,326 at press time, up 4.90% over 24 hours. The rally followed a weekly close back above the 50-week moving average.
This has historically served as a signal that bear-market lows are in. A short squeeze supplied much of the fuel. Coinglass data showed $746.6 million in crypto liquidations over 24 hours, with shorts accounting for $647.9 million.
Market-wide trading volume rose 39% to roughly $224 billion as that forced buying accelerated the climb. Sentiment moved with the price. Analytics firm Santiment recorded the largest spike in bullish commentary since December 2024, with social volume tied to bullish language reaching 954 mentions, compared with 269 for bearish language.
The Crypto Fear and Greed Index climbed to 78, or Extreme Greed, from 70 on Monday and 69 a week earlier. Corporate treasuries stepped up alongside retail enthusiasm. Strive bought 1,355 Bitcoin for about $107.7 million between September 14 and September 18, well above the 469 coins it acquired the previous week.
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