Crypto Market Recovery $270M Shorts Liquidated, Bitcoin Hits 9-Month High, Ethereum Jumps — Source: CoinGape Crypto market witnessed sharp recovery as $450 million in shorts liquidated in fou
The crypto market is witnessing a sudden recovery today, with Bitcoin rebounding 4% in just two hours to hit a 9-month high of $85,299. This follows the liquidation of nearly $270 million in short positions across BTC, ETH, SOL, XRP, DOGE, ZEC, HYPE, and other top altcoins in just an hour.
The global crypto market cap surged more than 2.25% to $2.87 trillion in the last 24 hours. The Crypto Market Fear & Greed Index has also improved to 70 (greed) from a neutral sentiment a week ago.
The crypto market saw another short liquidation-driven recovery. According to CoinGlass data, the broader market saw nearly $450 million in liquidations across BTC, Ethereum (ETH), XRP, Solana (SOL), Dogecoin (DOGE), Hyperliquid (HYPE) and SUI in the past 4 hours.
In the last 24 hours, $750 million in total crypto assets were liquidated. Almost $650 million were short liquidations, triggering bullish sentiment and recovery in the broader crypto market.
Bitcoin alone saw almost $300 million liquidated in the last 4 hours. On the other hand, ETH recorded $72 million in short liquidations, significantly lower than BTC.
BTC price has surged nearly 6% in the past 24 hours to hit a 9-month high of $85,299 today. The price is currently trading at $84,537, with a 58% increase in trading volume over the last 24 hours.
Crypto Market Short Liquidations Trigger Recovery. Source: CoinGlass
As already priced-in Fed rate hike sentiment faded, hopes of an end to the US-Iran war triggered inflows into spot Bitcoin and Ethereum ETFs. Oil prices also extended their fall for the fourth straight day. Crude oil prices dropped almost 3% to $97 on Monday.
This drove BTC to close above its 50-week moving average (WMA) for the first higher high since November 2025. On-chain platform Santiment noted that this signals a bear market bottom, with rising social volume, large transactions, and derivatives open interest.
$BTC closed the week above the weekly 50 MA for the first time since the bear market began.
And now it’s working on a higher high.
A close at these levels and bear market argument is dead.
Some would say this move has already killed it.
$82,814 is broken. pic.twitter.com/f4XiymJZNZ
— The Wolf Of All Streets (@scottmelker) September 21, 2026
Galaxy Research’s Alex Thorn also flagged a bear market bottom. He claimed the 50-WMA has historically been a strong confirmation that a bear market bottom is in. BTC price rally to drive a massive recovery in the crypto market.
In addition, Bitcoin’s hashrate is rising again after ending a recent downtrend, indicating renewed miner activity. As CoinGape reported earlier, miner MARA Holdings acquired BTC for the first time in months.
Bitcoin Network True Hashrate. Source: CryptoQuant
The crypto market recovery began last week itself when the crypto market saw $300 million in liquidations over four hours. BTC surpassed $81,000 as US regulators SEC and CFTC advanced crypto regulatory developments.
The SEC issued its innovation exemption to grant a five-year exemption to facilitate the trading of tokenized stocks in a major move for crypto. Meanwhile, the CFTC sent crypto rules to White House for regulatory clarity as the CLARITY Act stalled in the Senate.
Veteran trader Peter Brandt also predicted a crypto market recovery and massive rally in the coming years. He also posted his BTC prediction for the first time in more than a month.
“A bear trap immediately followed by a spring board. This is not something to be taken casually. This can be powerful,” he said.
Bitcoin Price in Daily Timeframe. Source: Peter Brandt
The crypto market recovery has sparked “Uptober” buzz. PlanB says this could be the last time BTC is under $100K. On-chain data remained bullish for weeks ahead. Notably, CryptoQuant’s Bull-Bear Market Cycle Indicator, used by long-term whales, showed that the broader cycle signal is bullish.
Bitcoin Bull-Bear Market Cycle Indicator. Source: CryptoQuant
Also Check: Best Crypto Tools for Research and Analysis
Crypto Market Recovery: $450M Shorts Liquidated, Bitcoin Hits 9-Month High originally appeared on CoinGape
