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Bitcoin hits highest level since January at $86,000, as the market debates whether the 'crypto winter' is over
Bitcoin rose above $86,000 on Monday as the cryptocurrency continued its sharp rally over the past few days.
Bitcoin was trading at $85,863.40, up around 5.8%, according to CoinMetrics. Earlier in the day, the cryptocurrency rose as high as $86,349.90 , its highest level since late Jan. 29.
Investors are assessing whether the "crypto winter" â a depressed period of digital asset prices â which began after bitcoin hit an all-time high of over $126,000 in October 2025, is over.
"I do think it's over, it's crypto spring, the crocuses are blooming," Matt Hougan, CIO at Bitwise, told CNBC's "Squawk Box Europe" on Monday. "I think this will actually be the strongest and longest-running bull market in crypto's history."
Bitcoin tops $86,000 despite CLARITY vote failure
Bitcoin (BTC) hit as high as $86,282.09 on Sep. 21, as per CoinGecko.
It is the leading cryptocurrency's 8-month high, as the last time it went this high was in late January this year.
Bitcoin has gained 5.8% in 24 hours, thanks to forced buying due to a short squeeze.
Around $454 million in Bitcoin short positions have been liquidated over the last 24 hours, as per the onchain analytics platform CoinGlass.
In fact, more than $928 million in short positions across different cryptocurrencies have been liquidated over the last 24 hours, out of which $784 million are short positions.
Kevin O'Leary says he's buying crypto again, here's his Bitcoin prediction
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