Bitcoin moved above $85,000 amid a wave of short liquidations and renewed spot demand. Strategy added to its holdings again, while Big Tech job listings, digital bond issuance, and new derivatives products pointed to continued infrastructure buildout.
Bitcoin rally extends on short squeeze and spot demand
Bitcoin climbed above $85,000, with reports citing a short squeeze that liquidated hundreds of millions of dollars in bearish bets. One update said spot buyers helped sustain the move and that open interest rose even as positions were closed out. Another noted BTC hitting $85,000 for the first time since January.
Sources: Decrypt, CoinDesk, Cointelegraph, CoinDesk
Strategy resumes buying as holdings near a recent peak
Strategy bought roughly $75 million to $76 million in bitcoin last week, marking its first weekly purchase in about three weeks. The company’s bitcoin balance has risen from an August low and is now within 0.2% of its June record, according to the reports.
Big Tech and banks keep testing crypto infrastructure
Google and Apple are reportedly hiring for crypto roles tied to stablecoins and tokenization, suggesting interest in future projects in those areas. Separately, Hana Bank issued South Korea’s first digital bond using Euroclear’s blockchain, a $100 million transaction that reportedly reduced settlement time from several business days to the same day.
Sources: CoinDesk, CoinDesk, Cointelegraph
Derivatives and chain migration activity continues
Hyperliquid launched perpetual futures linked to a bitcoin volatility index, allowing traders to take long or short exposure to 30-day bitcoin volatility. In another protocol move, ZetaChain holders approved a plan to wind down its Cosmos-based layer 1 and migrate ZETA to Solana.
Sources: CoinDesk, Cointelegraph
Fraud and security headlines remain active
X filed lawsuits involving alleged fake bitcoin news or account activity tied to creator-reward manipulation and inflated payout claims. Elsewhere, reports described a French wrench attack involving a crypto worker’s family and a North Korean fake-recruiter campaign that infected tens of thousands of devices and stole crypto.
Sources: CoinDesk, Cointelegraph, Decrypt, Cointelegraph